Burling Wealth Partners LLC Increases Stake in Prologis, Inc. $PLD

Burling Wealth Partners LLC raised its position in Prologis, Inc. (NYSE:PLD) by 33.0% in the 2nd quarter, Holdings Channel reports. The fund owned 23,113 shares of the real estate investment trust’s stock after acquiring an additional 5,730 shares during the period. Burling Wealth Partners LLC’s holdings in Prologis were worth $2,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC acquired a new stake in Prologis in the first quarter valued at $2,120,000. Ally Financial Inc. grew its stake in shares of Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after purchasing an additional 4,000 shares during the period. Inspire Investing LLC increased its holdings in shares of Prologis by 9.0% in the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after purchasing an additional 7,518 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Prologis in the first quarter valued at about $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Prologis by 14.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $123.92 on Friday. The stock’s 50 day moving average price is $118.96 and its 200 day moving average price is $111.58. The firm has a market cap of $115.10 billion, a P/E ratio of 36.13, a PEG ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.50.

Prologis (NYSE:PLD) last released 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $1.43 earnings per share. Prologis’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, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced 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 3.3%. Prologis’s payout ratio is presently 117.78%.

Analyst Ratings Changes

Several brokerages have weighed in on PLD. Citigroup lowered their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Truist Financial restated a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Scotiabank lifted their price objective on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday. Wells Fargo & Company boosted their target price on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group set a $133.00 target price on Prologis in a report on Monday. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s 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 completion of the transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s 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 sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by insiders.

Prologis Company 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.