Checchi Capital Advisers LLC Sells 177 Shares of Prologis, Inc. $PLD

Checchi Capital Advisers LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,705 shares of the real estate investment trust’s stock after selling 177 shares during the period. Checchi Capital Advisers LLC’s holdings in Prologis were worth $1,966,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 869,310 shares during the last quarter. Nuveen LLC bought a new stake in Prologis during the first quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. increased its stake in Prologis by 0.9% during the first 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 acquiring an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Prologis by 13.0% during the first 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 acquiring an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after acquiring an additional 507,367 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.8%

NYSE PLD opened at $117.09 on Friday. The company’s 50-day moving average price is $111.03 and its 200-day moving average price is $107.59. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $108.69 billion, a PE ratio of 31.73, a PEG ratio of 2.96 and a beta of 1.28. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The firm 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 business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on 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 owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLD shares. Evercore ISI boosted their target price on Prologis from $111.00 to $113.00 and gave the company 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 boosted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. UBS Group boosted 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. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Finally, Citigroup cut their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.