Creative Planning Lowers Position in Prologis, Inc. $PLD

Creative Planning cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,266 shares of the real estate investment trust’s stock after selling 15,849 shares during the period. Creative Planning’s holdings in Prologis were worth $9,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Brighton Jones LLC increased its stake in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Prologis by 109.6% in the first quarter. J.W. Cole Advisors Inc. now owns 11,635 shares of the real estate investment trust’s stock valued at $1,301,000 after acquiring an additional 6,083 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Prologis by 4.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 71,519 shares of the real estate investment trust’s stock valued at $7,995,000 after acquiring an additional 3,058 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Prologis by 1,572.3% during the first quarter. Los Angeles Capital Management LLC now owns 77,345 shares of the real estate investment trust’s stock worth $8,646,000 after acquiring an additional 72,720 shares during the period. Finally, GW&K Investment Management LLC lifted its holdings in Prologis by 24.4% during the first quarter. GW&K Investment Management LLC now owns 596 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, 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 completion of the transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% 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. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank upped their price objective on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Truist Financial reiterated 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. Finally, Mizuho set a $118.00 price target on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $125.39.

Prologis Stock Up 0.3%

Shares of NYSE PLD opened at $123.88 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The stock has a market capitalization of $115.07 billion, a PE ratio of 36.12, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The business’s fifty day moving average price is $119.58 and its 200-day moving average price is $112.11.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 117.78%.

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.