Bleakley Financial Group LLC Sells 758 Shares of Prologis, Inc. $PLD

Bleakley Financial Group LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,857 shares of the real estate investment trust’s stock after selling 758 shares during the quarter. Bleakley Financial Group LLC’s holdings in Prologis were worth $1,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Activest Wealth Management grew its position in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the 1st quarter worth $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the 1st quarter worth $43,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,500 shares of company stock valued at $2,952,095. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLD shares. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research note on Monday. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Citigroup decreased their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Finally, Evercore ISI upped their price objective on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $124.44.

Prologis Trading Up 0.7%

Prologis stock opened at $126.60 on Friday. The stock has a 50-day moving average of $115.20 and a two-hundred day moving average of $109.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The stock has a market cap of $117.57 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business posted $1.43 earnings per share. The firm’s 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, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

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.