Patriot Financial Group Insurance Agency LLC Acquires 126 Shares of Prologis, Inc. $PLD

Patriot Financial Group Insurance Agency LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 2.7% in the second quarter, HoldingsChannel.com reports. The fund owned 4,719 shares of the real estate investment trust’s stock after buying an additional 126 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Prologis were worth $496,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after acquiring an additional 869,310 shares during the period. Nuveen LLC bought a new position in shares of Prologis in the first quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after acquiring an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 worth $1,113,994,000 after acquiring an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Prologis by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after acquiring an additional 507,367 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.8%

Shares of PLD stock opened at $117.09 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. 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 stock’s 50 day simple moving average is $111.03 and its two-hundred day simple moving average is $107.59. The company has a market cap of $108.69 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The company’s quarterly 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. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the transaction, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last ninety days. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Finally, Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Two 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 stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

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.