Envestnet Portfolio Solutions Inc. Sells 498 Shares of Prologis, Inc. $PLD

Envestnet Portfolio Solutions Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 179,519 shares of the real estate investment trust’s stock after selling 498 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Prologis were worth $18,871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake in Prologis by 0.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 80,222 shares of the real estate investment trust’s stock worth $8,433,000 after buying an additional 600 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Prologis by 44.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,953 shares of the real estate investment trust’s stock worth $2,098,000 after acquiring an additional 6,140 shares in the last quarter. Griffin Asset Management Inc. increased its stake in Prologis by 352.6% in the second quarter. Griffin Asset Management Inc. now owns 20,049 shares of the real estate investment trust’s stock valued at $2,108,000 after acquiring an additional 15,619 shares during the last quarter. MGO One Seven LLC increased its stake in Prologis by 6.2% in the second quarter. MGO One Seven LLC now owns 14,613 shares of the real estate investment trust’s stock valued at $1,536,000 after acquiring an additional 859 shares during the last quarter. Finally, Meritage Portfolio Management bought a new stake in Prologis during the second quarter worth $2,048,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last quarter. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Down 2.8%

NYSE:PLD opened at $111.29 on Monday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $103.35 billion, a PE ratio of 30.16, a P/E/G ratio of 2.81 and a beta of 1.28. The firm’s 50 day simple moving average is $111.79 and its 200 day simple moving average is $107.73.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is 109.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PLD shares. UBS Group boosted their price target on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Evercore ISI boosted their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

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.