Beverly Hills Private Wealth LLC Lowers Holdings in Prologis, Inc. $PLD

Beverly Hills Private Wealth LLC trimmed its position in Prologis, Inc. (NYSE:PLD) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,837 shares of the real estate investment trust’s stock after selling 450 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Prologis were worth $1,349,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLD. Activest Wealth Management grew its position in Prologis by 637.1% during the first 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 in the last quarter. Pandora Wealth Inc. bought a new stake in shares of Prologis during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the first quarter worth about $34,000. Saudi Central Bank purchased a new stake in Prologis in the first quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis during the first quarter valued at approximately $43,000. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Evercore ISI increased their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Finally, Barclays dropped their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.74.

Prologis Stock Up 2.6%

PLD opened at $124.27 on Monday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $125.04. 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 business’s 50-day moving average price is $113.12 and its 200-day moving average price is $108.07. The company has a market cap of $115.40 billion, a P/E ratio of 36.23, a P/E/G ratio of 3.13 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 for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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

Prologis Company Profile

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.