Chevy Chase Trust Holdings LLC Has $51.58 Million Holdings in Prologis, Inc. $PLD

Chevy Chase Trust Holdings LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 490,681 shares of the real estate investment trust’s stock after acquiring an additional 3,838 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Prologis were worth $51,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. grew its stake in Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after buying an additional 93 shares during the last quarter. Michael S. Ryan Inc. grew its stake in Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its stake in Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC grew its stake in Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 96 shares during the last quarter. Finally, Sandler Capital Management boosted its holdings in Prologis by 5.3% in the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 completion of the transaction, the chief accounting officer directly 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 SEC, which is available at this hyperlink. Also, 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 transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Finally, Evercore ISI raised their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.74.

Prologis Trading Up 2.6%

Shares of PLD stock opened at $124.27 on Friday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $125.04. The company has a market capitalization of $115.40 billion, a P/E ratio of 36.23, a P/E/G ratio of 3.05 and a beta of 1.28. The firm has a 50-day moving average price of $113.12 and a 200 day moving average price of $108.06. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings results 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 36.71% and a return on equity of 5.55%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.43 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared 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. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

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.