PFG Investments LLC Has $1.86 Million Stock Position in Prologis, Inc. $PLD

PFG Investments LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 13.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,717 shares of the real estate investment trust’s stock after selling 2,725 shares during the quarter. PFG Investments LLC’s holdings in Prologis were worth $1,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alley Investment Management Company LLC boosted its position in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after purchasing an additional 54,914 shares during the period. Jump Financial LLC purchased a new stake in Prologis in the 1st quarter worth about $2,120,000. First Citizens Bank & Trust Co. lifted its stake in Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Truist Financial Corp lifted its stake in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock worth $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Finally, Ally Financial Inc. lifted its stake in Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on 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. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Prologis Stock Up 1.7%

PLD opened at $116.47 on Thursday. 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 $110.77 and a 200-day moving average of $107.58. 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 $108.11 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28.

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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is 109.49%.

Analyst Upgrades and Downgrades

PLD has been the subject of several research analyst reports. Evercore ISI increased their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. 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. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Finally, Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.