StrongBox Wealth LLC Reduces Holdings in Prologis, Inc. $PLD

StrongBox Wealth LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 80.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,422 shares of the real estate investment trust’s stock after selling 13,879 shares during the period. StrongBox Wealth LLC’s holdings in Prologis were worth $392,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. Cresset Asset Management LLC grew its stake in Prologis by 4.6% in the 1st quarter. Cresset Asset Management LLC now owns 39,933 shares of the real estate investment trust’s stock valued at $4,464,000 after buying an additional 1,759 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Prologis by 8.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 32,082 shares of the real estate investment trust’s stock valued at $3,586,000 after acquiring an additional 2,506 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Prologis by 31.7% in the first quarter. Brooklyn Investment Group now owns 5,507 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 1,325 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Prologis by 9.3% in the first quarter. Wellington Management Group LLP now owns 3,446,822 shares of the real estate investment trust’s stock worth $385,320,000 after acquiring an additional 293,763 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 1,621 shares of company stock valued at $198,655. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Wells Fargo & Company lifted their target price on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Barclays lowered their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Weiss Ratings raised shares of Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.88.

Prologis Stock Down 2.2%

Shares of NYSE PLD opened at $127.73 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $124.87 and a 200-day moving average of $115.02. The firm has a market capitalization of $118.64 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 4.01 and a beta of 1.40. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share 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 $2.21 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.43 earnings per share. Prologis’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s payout ratio is 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.