Freedom Investment Management Inc. Has $836,000 Stake in Prologis, Inc. $PLD

Freedom Investment Management Inc. boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 3.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,955 shares of the real estate investment trust’s stock after purchasing an additional 245 shares during the period. Freedom Investment Management Inc.’s holdings in Prologis were worth $836,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Ethic Inc. grew its stake in Prologis by 2.3% during the second quarter. Ethic Inc. now owns 94,484 shares of the real estate investment trust’s stock worth $9,979,000 after buying an additional 2,099 shares in the last quarter. Parcion Private Wealth LLC grew its stake in Prologis by 6.6% during the second quarter. Parcion Private Wealth LLC now owns 2,370 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 146 shares in the last quarter. Patten Group Inc. grew its stake in Prologis by 19.5% during the second quarter. Patten Group Inc. now owns 3,935 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 641 shares in the last quarter. Cookson Peirce & Co. Inc. grew its stake in Prologis by 20.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 6,369 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 1,068 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Prologis by 169.4% during the second quarter. D.A. Davidson & CO. now owns 503,191 shares of the real estate investment trust’s stock worth $52,896,000 after buying an additional 316,443 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.7%

NYSE:PLD opened at $126.60 on Friday. The firm’s 50 day simple moving average is $115.20 and its 200 day simple moving average is $109.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market cap of $117.57 billion, a PE ratio of 36.91, a P/E/G ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $1.43 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares in the company, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research note on Monday. Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research note on Monday. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $124.44.

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.