Fred Alger Management LLC Purchases 1,745 Shares of Prologis, Inc. $PLD

Fred Alger Management LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.2% in the 1st quarter, Holdings Channel reports. The firm owned 26,119 shares of the real estate investment trust’s stock after buying an additional 1,745 shares during the period. Fred Alger Management LLC’s holdings in Prologis were worth $2,920,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PLD. Activest Wealth Management grew its position in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the last quarter. REAP Financial Group LLC grew its holdings in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Pandora Wealth Inc. acquired a new position in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the 1st quarter valued at approximately $34,000. Finally, Saudi Central Bank bought a new position in Prologis in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Prologis Stock Down 1.4%

Shares of NYSE:PLD opened at $111.93 on Wednesday. The firm has a market cap of $103.90 billion, a P/E ratio of 30.33, a P/E/G ratio of 2.85 and a beta of 1.26. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The business has a fifty day simple moving average of $108.83 and a 200 day simple moving average of $108.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, UBS Group upped their price objective on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.83.

About Prologis

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.