Fifth Third Wealth Advisors LLC Grows Stake in Prologis, Inc. $PLD

Fifth Third Wealth Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,948 shares of the real estate investment trust’s stock after purchasing an additional 431 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $1,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis in the 1st quarter valued at approximately $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the 1st quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis in the 1st quarter valued at approximately $43,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director directly owned 9,329 shares in the company, 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. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI increased their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Finally, Citigroup cut their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.58.

Prologis Price Performance

Shares of NYSE PLD opened at $111.29 on Friday. The stock has a market capitalization of $103.35 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.81 and a beta of 1.28. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65. The firm’s 50 day simple moving average is $111.79 and its 200-day simple moving average is $107.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

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

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

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.