Griffin Asset Management Inc. Grows Holdings in Prologis, Inc. $PLD

Griffin Asset Management Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 352.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,049 shares of the real estate investment trust’s stock after buying an additional 15,619 shares during the period. Griffin Asset Management Inc.’s holdings in Prologis were worth $2,108,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management increased its stake in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. purchased a new position in shares of Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the first quarter valued at $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis during the first quarter valued at $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares in the company, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s 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 owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 in the last 90 days. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Price Performance

PLD opened at $111.29 on Monday. The business’s 50-day moving average is $111.79 and its two-hundred day moving average is $107.73. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $103.35 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis’s payout ratio is presently 109.49%.

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.