Sequoia Financial Advisors LLC Has $2.10 Million Stock Position in Prologis, Inc. $PLD

Sequoia Financial Advisors LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 44.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,953 shares of the real estate investment trust’s stock after acquiring an additional 6,140 shares during the period. Sequoia Financial Advisors LLC’s holdings in Prologis were worth $2,098,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Michael S. Ryan Inc. grew its stake in shares of Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its stake in shares of Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC grew its stake in shares of Prologis by 5.6% in the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 96 shares during the last quarter. Sandler Capital Management grew its stake in shares of Prologis by 5.3% in the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 100 shares during the last quarter. Finally, Sunflower Bank N.A. grew its stake in shares of Prologis by 3.9% in the second quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 100 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD opened at $122.83 on Thursday. The firm’s 50-day moving average price is $112.45 and its 200-day moving average price is $107.91. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The firm has a market capitalization of $114.07 billion, a P/E ratio of 33.29, a P/E/G ratio of 2.92 and a beta of 1.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis’s payout ratio is presently 109.49%.

Analysts Set New Price Targets

A number of brokerages have commented on PLD. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. UBS Group upped their price target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Evercore ISI upped their price target on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Finally, Citigroup cut their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by insiders.

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.