Western Wealth Management LLC Sells 707 Shares of Prologis, Inc. $PLD

Western Wealth Management LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,074 shares of the real estate investment trust’s stock after selling 707 shares during the period. Western Wealth Management LLC’s holdings in Prologis were worth $428,000 at the end of the most recent quarter.

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

Prologis Trading Up 0.3%

Shares of PLD stock opened at $123.88 on Wednesday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The company has a market capitalization of $115.07 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The firm has a 50 day moving average price of $119.58 and a two-hundred day moving average price of $112.11. 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 (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated 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 sale, the chief accounting officer owned 414 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $123.14, for a total transaction of $61,570.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research note on Monday, October 20th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Evercore ISI boosted their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.39.

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.