Turtle Creek Wealth Advisors LLC Raises Holdings in Prologis, Inc. $PLD

Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 35.3% in the second quarter, HoldingsChannel reports. The firm owned 28,806 shares of the real estate investment trust’s stock after acquiring an additional 7,510 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Prologis were worth $3,028,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 869,310 shares during the period. Nuveen LLC purchased a new stake in Prologis in the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. grew its stake in Prologis by 0.9% in the 1st 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 grew its stake in Prologis by 13.0% in the 1st 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. grew its stake in Prologis by 7.0% in the 1st 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. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 6.4%

Shares of NYSE PLD opened at $122.83 on Thursday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The firm has a fifty day moving average of $112.45 and a 200-day moving average of $107.91. The stock has a market capitalization of $114.07 billion, a PE ratio of 33.29, a P/E/G ratio of 2.92 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 (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.43 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis’s payout ratio is presently 109.49%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PLD shares. UBS Group lifted their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Finally, Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $122.58.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, 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 have sold a total of 26,500 shares of company stock worth $2,952,095 in the last 90 days. Company insiders own 0.57% of the company’s stock.

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.