Prologis, Inc. $PLD Shares Sold by Adelante Capital Management LLC

Adelante Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 13.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,205,055 shares of the real estate investment trust’s stock after selling 195,289 shares during the quarter. Prologis accounts for about 9.5% of Adelante Capital Management LLC’s holdings, making the stock its 2nd biggest position. Adelante Capital Management LLC’s holdings in Prologis were worth $134,713,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Prologis by 0.7% in the first 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 period. Nuveen LLC acquired a new position in shares of Prologis during the 1st quarter worth $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust’s stock worth $1,125,586,000 after buying an additional 505,318 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 93,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 1,146,454 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several research reports. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. UBS Group lifted their price target on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. 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. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $121.83.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Prologis Stock Up 0.8%

PLD opened at $113.57 on Friday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The business has a 50-day moving average of $108.56 and a two-hundred day moving average of $108.23. 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 stock has a market capitalization of $105.42 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $1.34 EPS. The company’s quarterly revenue 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, research analysts expect 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 will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis’s dividend payout ratio is currently 109.49%.

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.