Prologis, Inc. $PLD Shares Sold by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 66.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,565 shares of the real estate investment trust’s stock after selling 7,170 shares during the period. Sterling Investment Counsel LLC’s holdings in Prologis were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Alley Investment Management Company LLC increased its holdings in Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after purchasing an additional 54,914 shares in the last quarter. Jump Financial LLC acquired a new stake in Prologis in the 1st quarter valued at $2,120,000. First Citizens Bank & Trust Co. increased its holdings in Prologis by 1,451.2% in the 1st 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 purchasing an additional 29,170 shares in the last quarter. Truist Financial Corp increased its holdings in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after purchasing an additional 25,229 shares in the last quarter. Finally, Ally Financial Inc. increased its holdings in Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. 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. 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. Finally, 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. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the 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 transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $116.22 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50-day moving average of $110.90 and a two-hundred day moving average of $107.59. The stock has a market cap of $107.88 billion, a P/E ratio of 31.49, a PEG ratio of 2.94 and a beta of 1.28. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $1.34 earnings per share. The company’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, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

Prologis Company 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.