Sound Income Strategies LLC lessened its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 42.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 365 shares of the real estate investment trust’s stock after selling 266 shares during the quarter. Sound Income Strategies LLC’s holdings in Prologis were worth $38,000 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 grew its holdings 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 last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the first quarter valued at approximately $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the first quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.
Prologis Stock Up 1.7%
PLD opened at $116.47 on Thursday. 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, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The company has a market capitalization of $108.11 billion, a PE ratio of 31.56, a PEG ratio of 2.89 and a beta of 1.28. The firm’s 50 day simple moving average is $110.77 and its two-hundred day simple moving average is $107.58.
Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.34 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.
Analysts Set New Price Targets
PLD has been the topic of a number of recent analyst reports. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Barclays lowered their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. UBS Group increased their price objective 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. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.
Get Our Latest Stock Report on Prologis
Insider Activity at Prologis
In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.
Prologis Company Profile
(Free Report)
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.
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