MCF Advisors LLC Has $447,000 Position in Prologis, Inc. $PLD

MCF Advisors LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,253 shares of the real estate investment trust’s stock after selling 348 shares during the quarter. MCF Advisors LLC’s holdings in Prologis were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares during the period. Nuveen LLC bought a new position in shares of Prologis during the first quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after buying an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after buying an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after buying an additional 507,367 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $114.15 on Tuesday. The stock has a market cap of $105.96 billion, a P/E ratio of 30.93, a PEG ratio of 2.87 and a beta of 1.26. The stock has a 50 day simple moving average of $109.95 and a 200 day simple moving average of $107.50. 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.

Prologis (NYSE:PLD) 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. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.34 EPS. 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 year.

Prologis Dividend Announcement

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

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction 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 transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents 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 owned by insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Evercore ISI increased their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Barclays decreased their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Finally, Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

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.