Spinnaker Trust Has $5.18 Million Stake in Prologis, Inc. $PLD

Spinnaker Trust lifted its holdings in Prologis, Inc. (NYSE:PLD) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,304 shares of the real estate investment trust’s stock after buying an additional 832 shares during the period. Spinnaker Trust’s holdings in Prologis were worth $5,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis in the 1st quarter worth approximately $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the 1st quarter worth approximately $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PLD shares. UBS Group set a $137.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. BMO Capital Markets upgraded 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, October 20th. Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Two research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.56.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were 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 of the company’s stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last three months. Insiders own 0.57% of the company’s stock.

Prologis Trading Down 1.9%

Shares of PLD stock opened at $123.37 on Thursday. The company’s fifty day simple moving average is $116.20 and its two-hundred day simple moving average is $109.81. 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 1 year low of $85.35 and a 1 year high of $127.50. The stock has a market capitalization of $114.57 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis’s payout ratio is presently 117.78%.

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.