Rogco LP Has $291,000 Stake in Prologis, Inc. $PLD

Rogco LP boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 20.1% in the second quarter, Holdings Channel reports. The fund owned 2,771 shares of the real estate investment trust’s stock after acquiring an additional 463 shares during the period. Rogco LP’s holdings in Prologis were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alley Investment Management Company LLC lifted its position in Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock worth $12,111,000 after acquiring an additional 54,914 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Prologis during the first quarter valued at about $2,120,000. First Citizens Bank & Trust Co. raised its position in shares of Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock valued at $3,486,000 after buying an additional 29,170 shares during the last quarter. Truist Financial Corp raised its position in shares of Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after buying an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. raised its position in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $114.50 on Wednesday. The stock has a market cap of $106.29 billion, a P/E ratio of 31.03, a PEG ratio of 2.89 and a beta of 1.26. The company’s 50-day simple moving average is $110.64 and its 200 day simple moving average is $107.52. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share 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 revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous 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 forecast 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 was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 109.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. 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. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. UBS Group upped 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. Finally, Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two equities research 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 data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% 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 corporate insiders.

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.