Coldstream Capital Management Inc. Sells 1,633 Shares of Prologis, Inc. $PLD

Coldstream Capital Management Inc. decreased its stake in Prologis, Inc. (NYSE:PLD) by 9.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 15,455 shares of the real estate investment trust’s stock after selling 1,633 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Prologis were worth $1,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new stake in Prologis during the 1st quarter worth approximately $2,120,000. Ally Financial Inc. lifted its holdings in Prologis by 16.7% in 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 buying an additional 4,000 shares during the period. Inspire Investing LLC boosted 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 valued at $10,129,000 after purchasing an additional 7,518 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Prologis in the first quarter valued at $21,792,000. Finally, Coordinated Financial Services Inc. purchased a new stake in shares of Prologis in the second quarter worth approximately $389,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLD shares. Barclays dropped their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Scotiabank lifted their target price on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a report on Monday, October 20th. Truist Financial restated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Finally, Evercore ISI lifted 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. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.39.

Prologis Price Performance

NYSE PLD opened at $126.78 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market cap of $117.76 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.56. The firm’s 50-day simple moving average is $120.43 and its two-hundred day simple moving average is $112.66.

Prologis (NYSE:PLD) last posted its 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. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue was up 8.6% on a year-over-year basis. 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. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business 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 was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio is currently 117.78%.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the transaction, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,000 shares of company stock worth $230,415 in the last quarter. Corporate 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.