Sarasin & Partners LLP Decreases Stock Holdings in Prologis, Inc. $PLD

Sarasin & Partners LLP cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 799,466 shares of the real estate investment trust’s stock after selling 68,025 shares during the quarter. Sarasin & Partners LLP owned approximately 0.09% of Prologis worth $84,040,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Activest Wealth Management increased its holdings in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares during the last quarter. REAP Financial Group LLC increased its holdings in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the 1st quarter worth approximately $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth approximately $41,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Evercore ISI raised their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday. UBS Group raised their target price on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.58.

Prologis Price Performance

PLD stock opened at $113.95 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $130.05. The stock has a market cap of $105.78 billion, a PE ratio of 30.88, a P/E/G ratio of 2.87 and a beta of 1.26. The firm has a 50 day simple moving average of $109.48 and a two-hundred day simple moving average of $107.82.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The business’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. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Prologis’s dividend payout ratio is presently 109.49%.

Prologis 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.