Northside Capital Management LLC Buys New Holdings in Prologis, Inc. $PLD

Northside Capital Management LLC bought a new stake in Prologis, Inc. (NYSE:PLD) in the 2nd quarter, Holdings Channel.com reports. The firm bought 9,322 shares of the real estate investment trust’s stock, valued at approximately $980,000.

Other hedge funds have also bought and sold shares of the company. Accurate Wealth Management LLC lifted its position in Prologis by 8.2% during the second quarter. Accurate Wealth Management LLC now owns 6,133 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 464 shares during the last quarter. CCM Investment Advisers LLC lifted its position in Prologis by 7.4% during the second quarter. CCM Investment Advisers LLC now owns 78,810 shares of the real estate investment trust’s stock worth $8,285,000 after acquiring an additional 5,423 shares during the last quarter. Family Wealth Partners LLC acquired a new stake in Prologis during the second quarter worth approximately $255,000. Opal Wealth Advisors LLC lifted its position in Prologis by 173.2% during the second quarter. Opal Wealth Advisors LLC now owns 2,912 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 1,846 shares during the last quarter. Finally, MFA Wealth Advisors LLC lifted its position in Prologis by 7.7% during the second quarter. MFA Wealth Advisors LLC now owns 3,474 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 249 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Prologis Stock Performance

Shares of NYSE:PLD opened at $114.45 on Wednesday. The company’s 50 day simple moving average is $110.06 and its 200 day simple moving average is $107.55. The stock has a market capitalization of $106.24 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. 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 1 year low of $85.35 and a 1 year high of $127.65.

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

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PLD shares. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Evercore ISI raised their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.58.

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.