Prologis, Inc. $PLD Holdings Lifted by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its stake in Prologis, Inc. (NYSE:PLD) by 2.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,338 shares of the real estate investment trust’s stock after purchasing an additional 265 shares during the quarter. Smith Salley Wealth Management’s holdings in Prologis were worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Michael S. Ryan Inc. boosted its position in shares of Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC boosted its position in shares of Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 96 shares during the period. Van Hulzen Asset Management LLC boosted its position in shares of Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 96 shares during the period. Sandler Capital Management boosted its position in shares of Prologis by 5.3% in the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 100 shares during the period. Finally, Sunflower Bank N.A. boosted its position in shares of Prologis by 3.9% in the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.9%

PLD opened at $114.27 on Monday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The business has a 50-day moving average of $110.41 and a 200-day moving average of $107.46. 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 company has a market capitalization of $106.07 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business earned $1.34 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared 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 3.5%. Prologis’s dividend payout ratio (DPR) is 109.49%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Barclays reduced their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.58.

Insider Transactions at Prologis

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

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.