Rathbones Group PLC Acquires 2,334 Shares of Prologis, Inc. $PLD

Rathbones Group PLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 56.8% during the second quarter, Holdings Channel reports. The firm owned 6,446 shares of the real estate investment trust’s stock after acquiring an additional 2,334 shares during the quarter. Rathbones Group PLC’s holdings in Prologis were worth $678,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis during the first quarter worth $34,000. Saudi Central Bank acquired a new stake in Prologis in the first quarter worth $41,000. Finally, Barrett & Company Inc. bought a new stake in Prologis in the second quarter valued at $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Barclays reduced 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. Scotiabank upped their target price on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research report on Monday. Industrial Alliance Securities set a $119.00 target price on Prologis in a report on Monday, October 20th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.39.

Prologis Trading Up 1.1%

NYSE PLD opened at $126.24 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $118.46 and a 200 day simple moving average of $111.40. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The firm has a market capitalization of $117.26 billion, a P/E ratio of 36.80, a PEG ratio of 3.13 and a beta of 1.29.

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

Prologis Announces Dividend

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

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,000 shares of company stock worth $3,013,665 in the last 90 days. Company 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.