Conning Inc. Has $533,000 Stock Holdings in Prologis, Inc. $PLD

Conning Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,068 shares of the real estate investment trust’s stock after selling 217 shares during the quarter. Conning Inc.’s holdings in Prologis were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Prologis by 5.8% in the first quarter. Farther Finance Advisors LLC now owns 7,533 shares of the real estate investment trust’s stock valued at $840,000 after purchasing an additional 410 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Prologis by 24.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,107 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 605 shares during the last quarter. GAMMA Investing LLC increased its stake in Prologis by 19.6% in the 1st quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $1,333,000 after buying an additional 1,956 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its stake in Prologis by 14.4% in the 1st quarter. Integrated Advisors Network LLC now owns 5,957 shares of the real estate investment trust’s stock valued at $666,000 after buying an additional 751 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $111.29 on Friday. The business’s 50-day moving average price is $111.79 and its 200-day moving average price is $107.76. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65. The firm has a market capitalization of $103.35 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.81 and a beta of 1.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.34 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis’s payout ratio is presently 109.49%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.