Presima Securities ULC Trims Stock Position in Prologis, Inc. $PLD

Presima Securities ULC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 92.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,233 shares of the real estate investment trust’s stock after selling 416,710 shares during the quarter. Prologis makes up approximately 0.9% of Presima Securities ULC’s holdings, making the stock its 20th biggest position. Presima Securities ULC’s holdings in Prologis were worth $3,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management increased 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 valued at $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.1%

PLD stock opened at $124.31 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The company has a market capitalization of $115.44 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.13 and a beta of 1.28. The business has a 50 day simple moving average of $116.76 and a two-hundred day simple moving average of $110.10.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLD. Evercore ISI upped their price target on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Barclays cut their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research note on Monday, October 20th. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $124.56.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last quarter. Corporate 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.