Geode Capital Management LLC Buys 310,333 Shares of Prologis, Inc. $PLD

Geode Capital Management LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,416,833 shares of the real estate investment trust’s stock after buying an additional 310,333 shares during the period. Geode Capital Management LLC owned 2.42% of Prologis worth $2,345,922,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PLD. Nuveen LLC bought a new stake in Prologis during the 1st quarter worth approximately $1,456,768,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Prologis by 13.0% in the first 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 purchasing an additional 1,146,454 shares during the period. Strs Ohio purchased a new stake in shares of Prologis in the first quarter worth $98,308,000. Vanguard Group Inc. raised 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 worth $13,564,533,000 after buying an additional 869,310 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Prologis by 18.4% during the second quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock valued at $362,905,000 after buying an additional 535,703 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Prologis stock opened at $126.24 on Wednesday. The firm has a fifty day simple moving average of $118.46 and a two-hundred day simple moving average of $111.40. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a market capitalization 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 (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a report on Monday, October 20th. Truist Financial reaffirmed a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research note on Monday, October 20th. Evercore ISI raised their price objective 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. Finally, Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Two investment 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 company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $125.39.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the transaction, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

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.