111 Capital Sells 12,831 Shares of Prologis, Inc. $PLD

111 Capital cut its position in shares of Prologis, Inc. (NYSE:PLD) by 54.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,790 shares of the real estate investment trust’s stock after selling 12,831 shares during the period. 111 Capital’s holdings in Prologis were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Segment Wealth Management LLC grew its holdings in Prologis by 14.9% during the second quarter. Segment Wealth Management LLC now owns 7,122 shares of the real estate investment trust’s stock worth $749,000 after purchasing an additional 923 shares during the period. Barrett & Company Inc. acquired a new stake in shares of Prologis in the second quarter valued at approximately $44,000. New Century Financial Group LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $242,000. Vanderbilt University boosted its stake in shares of Prologis by 17.8% during the 2nd quarter. Vanderbilt University now owns 54,355 shares of the real estate investment trust’s stock worth $5,714,000 after acquiring an additional 8,199 shares during the period. Finally, Abundance Wealth Counselors increased its holdings in shares of Prologis by 3.2% during the 2nd quarter. Abundance Wealth Counselors now owns 17,224 shares of the real estate investment trust’s stock worth $1,811,000 after acquiring an additional 526 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. UBS Group upped their price target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research report on Saturday, September 27th. Finally, Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Price Performance

NYSE:PLD opened at $117.09 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 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. The firm’s 50-day simple moving average is $111.03 and its 200 day simple moving average is $107.59. The firm has a market cap of $108.69 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 2.96 and a beta of 1.28.

Prologis (NYSE:PLD) last posted 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts predict 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 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 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is 109.49%.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, 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 Securities & Exchange Commission, which is accessible 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 of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last ninety days. Insiders own 0.57% of the company’s stock.

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.