Figure 8 Investment Strategies LLC Decreases Stock Position in Prologis, Inc. $PLD

Figure 8 Investment Strategies LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 39.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,326 shares of the real estate investment trust’s stock after selling 8,629 shares during the quarter. Prologis makes up about 1.4% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 27th largest holding. Figure 8 Investment Strategies LLC’s holdings in Prologis were worth $1,401,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Alley Investment Management Company LLC grew its stake in Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after acquiring an additional 54,914 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Prologis during the 1st quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. grew its position in shares of Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock valued at $3,486,000 after purchasing an additional 29,170 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after purchasing an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. increased its holdings in shares of Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the transaction, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock worth $2,952,095 in the last quarter. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several analyst reports. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Barclays lowered their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Evercore ISI raised their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Finally, Citigroup dropped their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Prologis Trading Up 0.8%

Shares of PLD stock opened at $117.09 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The firm has a market cap of $108.69 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. The company has a 50-day moving average of $111.03 and a two-hundred day moving average of $107.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s payout ratio is presently 109.49%.

Prologis 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.