Prologis, Inc. $PLD Shares Sold by LRI Investments LLC

LRI Investments LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,275 shares of the real estate investment trust’s stock after selling 439 shares during the period. LRI Investments LLC’s holdings in Prologis were worth $1,080,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLD. Vanguard Group Inc. boosted its position 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 last quarter. Nuveen LLC acquired a new stake in shares of Prologis in the first quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. boosted its position 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 last quarter. Price T Rowe Associates Inc. MD boosted its position 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 last quarter. Finally, Goldman Sachs Group Inc. boosted its position 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 last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 2.8%

Shares of NYSE:PLD opened at $111.29 on Friday. The firm has a market cap of $103.35 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a fifty day simple moving average of $111.79 and a 200 day simple moving average of $107.76. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.65.

Prologis (NYSE:PLD) last released 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated 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 in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,500 shares of company stock valued at $2,952,095. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLD shares. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. UBS Group raised their price target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.