Prologis, Inc. $PLD Holdings Decreased by Davis Selected Advisers

Davis Selected Advisers cut its position in shares of Prologis, Inc. (NYSE:PLD) by 24.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,226 shares of the real estate investment trust’s stock after selling 42,530 shares during the quarter. Davis Selected Advisers’ holdings in Prologis were worth $13,584,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Prologis during the first quarter worth about $2,120,000. Ally Financial Inc. grew its holdings in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares during the last quarter. Inspire Investing LLC raised its position in shares of Prologis by 9.0% during the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after purchasing an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Prologis in the 1st quarter worth approximately $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its position in Prologis by 14.3% during the 1st 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. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Citigroup cut their price objective 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. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Scotiabank lifted their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Price Performance

NYSE PLD opened at $123.92 on Friday. 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 $115.10 billion, a PE ratio of 36.13, a P/E/G ratio of 3.13 and a beta of 1.29. The company’s 50 day simple moving average is $118.96 and its 200 day simple moving average is $111.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $1.43 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 117.78%.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. 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. 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.