Bailard Inc. Sells 2,247 Shares of Prologis, Inc. $PLD

Bailard Inc. decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,936 shares of the real estate investment trust’s stock after selling 2,247 shares during the quarter. Bailard Inc.’s holdings in Prologis were worth $10,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Prologis by 0.7% during 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 purchasing an additional 869,310 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Prologis by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after buying an additional 310,333 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Prologis in the first quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. boosted its stake in Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after buying an additional 93,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 valued at $1,113,994,000 after buying an additional 1,146,454 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Prologis news, 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on 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 sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Scotiabank upped their price objective on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Barclays dropped their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company upped their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.39.

Prologis Price Performance

PLD stock opened at $126.24 on Wednesday. The stock has a market cap of $117.26 billion, a PE ratio of 36.80, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company has a 50-day moving average price of $118.46 and a 200 day moving average price of $111.40. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

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.