Tyche Wealth Partners LLC Acquires 937 Shares of Prologis, Inc. $PLD

Tyche Wealth Partners LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 32.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,801 shares of the real estate investment trust’s stock after purchasing an additional 937 shares during the period. Tyche Wealth Partners LLC’s holdings in Prologis were worth $400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Nuveen LLC bought a new position in Prologis during the first quarter valued at approximately $1,456,768,000. Valeo Financial Advisors LLC raised its position in Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after acquiring an additional 2,862,183 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Prologis by 5,678.8% in the first quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust’s stock valued at $160,617,000 after purchasing an additional 1,411,910 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the period. Finally, Strs Ohio bought a new position in shares of Prologis in the first quarter valued at approximately $98,308,000. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction 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 $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Prologis Trading Down 1.0%

Shares of PLD stock opened at $115.95 on Wednesday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The firm’s fifty day simple moving average is $111.36 and its 200 day simple moving average is $107.68. The firm has a market capitalization of $107.63 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Prologis’s 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. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis’s payout ratio is currently 109.49%.

Analyst Ratings Changes

PLD has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Barclays dropped their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Finally, Evercore ISI lifted their price target on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.58.

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.