Park Place Capital Corp Trims Stake in Prologis, Inc. $PLD

Park Place Capital Corp reduced its position in Prologis, Inc. (NYSE:PLD) by 33.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,048 shares of the real estate investment trust’s stock after selling 2,074 shares during the quarter. Park Place Capital Corp’s holdings in Prologis were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Prologis by 0.7% in the 1st 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 purchased a new stake in Prologis in the 1st quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. raised its position in Prologis by 0.9% in the 1st 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 purchasing an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD raised its position in Prologis by 13.0% in the 1st 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 purchasing an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after purchasing an additional 507,367 shares during the period. 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 dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Prologis Trading Down 0.1%

Shares of Prologis stock opened at $114.11 on Tuesday. The firm has a 50-day simple moving average of $110.53 and a two-hundred day simple moving average of $107.47. The company has a market cap of $105.92 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior 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, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

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

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Citigroup reduced their price objective 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. Barclays reduced their target price 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. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Finally, Evercore ISI raised their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price 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.