Prologis, Inc. $PLD Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 63,949 shares of the real estate investment trust’s stock after purchasing an additional 5,325 shares during the period. Prologis makes up 0.8% of Naviter Wealth LLC’s portfolio, making the stock its 22nd largest holding. Naviter Wealth LLC’s holdings in Prologis were worth $6,722,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’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 transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s 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 completion of the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. 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 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Finally, Evercore ISI raised their target price on Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.58.

Prologis Trading Up 1.3%

NYSE:PLD opened at $112.67 on Tuesday. The company has a market capitalization of $104.64 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The stock has a fifty day simple moving average of $111.94 and a 200-day simple moving average of $107.75.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The business 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%.The business’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 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced 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 3.6%. Prologis’s payout ratio is presently 109.49%.

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.