Hixon Zuercher LLC Buys 546 Shares of Prologis, Inc. $PLD

Hixon Zuercher LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,916 shares of the real estate investment trust’s stock after acquiring an additional 546 shares during the period. Hixon Zuercher LLC’s holdings in Prologis were worth $2,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Prologis during the 1st quarter worth approximately $1,456,768,000. Valeo Financial Advisors LLC grew its holdings in Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Prologis by 13.0% during 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 buying an additional 1,146,454 shares during the period. Strs Ohio acquired a new stake in shares of Prologis during the first quarter worth $98,308,000. Finally, Vanguard Group Inc. boosted its position in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLD. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Truist Financial restated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a report on Saturday. Two equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.44.

Prologis Price Performance

Prologis stock opened at $126.60 on Friday. 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 52 week low of $85.35 and a 52 week high of $127.50. The stock has a market capitalization of $117.57 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. The stock has a fifty day moving average of $115.20 and a 200-day moving average of $109.13.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed 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 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was 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 of the company’s stock, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.