Meritage Portfolio Management Makes New $2.05 Million Investment in Prologis, Inc. $PLD

Meritage Portfolio Management acquired a new position in Prologis, Inc. (NYSE:PLD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,482 shares of the real estate investment trust’s stock, valued at approximately $2,048,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Prologis during the first quarter valued at approximately $1,456,768,000. Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after acquiring an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock valued at $870,871,000 after acquiring an additional 507,367 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction dated 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 $1,091,019. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Evercore ISI lifted their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. UBS Group boosted their target price on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Stock Down 2.8%

Shares of NYSE PLD opened at $111.29 on Monday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The business has a 50-day simple moving average of $111.79 and a two-hundred day simple moving average of $107.73. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market cap of $103.35 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.81 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 EPS 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 analysts’ expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share 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 $1.01 dividend. 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 dividend payout ratio 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.