Pittenger & Anderson Inc. Purchases 100 Shares of Prologis, Inc. $PLD

Pittenger & Anderson Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 23.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 531 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the period. Pittenger & Anderson Inc.’s holdings in Prologis were worth $56,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the last quarter. Nuveen LLC bought a new position in Prologis during the 1st quarter worth $1,456,768,000. Charles Schwab Investment Management Inc. raised its position in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after purchasing an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Prologis by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after purchasing an additional 507,367 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

PLD stock opened at $126.11 on Wednesday. The stock has a 50-day moving average price of $114.01 and a 200-day moving average price of $108.40. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market cap of $117.11 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28.

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

Prologis Dividend Announcement

The company also recently announced 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 was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLD shares. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Truist Financial reaffirmed a “buy” rating and set a $131.00 target price (up from $120.00) on shares of Prologis in a research report on Monday. Evercore ISI raised their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Finally, BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $124.44.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by company insiders.

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.