Sterling Investment Counsel LLC Lowers Stock Position in Prologis, Inc. $PLD

Sterling Investment Counsel LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 66.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,565 shares of the real estate investment trust’s stock after selling 7,170 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Prologis were worth $375,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Evercore ISI upped their target price on Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.58.

Prologis Trading Down 0.2%

Shares of PLD opened at $116.22 on Friday. The stock has a fifty day moving average of $110.90 and a two-hundred day moving average of $107.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $107.88 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.94 and a beta of 1.28. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, analysts forecast 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 issued a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis’s payout ratio is 109.49%.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last quarter. 0.57% of the stock is currently owned by insiders.

Prologis 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.