Simplicity Wealth LLC Acquires 9,432 Shares of Prologis, Inc. $PLD

Simplicity Wealth LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 464.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,464 shares of the real estate investment trust’s stock after purchasing an additional 9,432 shares during the period. Simplicity Wealth LLC’s holdings in Prologis were worth $1,205,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC lifted its holdings 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 buying an additional 54,914 shares during the period. Jump Financial LLC acquired a new position in shares of Prologis in the first quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. boosted its holdings in Prologis by 1,451.2% in 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 acquiring an additional 29,170 shares during the last quarter. Truist Financial Corp increased its position in Prologis by 9.3% during 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 during the period. Finally, Ally Financial Inc. raised its holdings in Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after purchasing an additional 4,000 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. UBS Group upped their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.58.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the transaction, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Prologis Price Performance

PLD stock opened at $117.17 on Tuesday. 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 company’s 50-day moving average is $111.23 and its 200-day moving average is $107.62. The stock has a market capitalization of $108.76 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.96 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 posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm’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 earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given 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 3.4%. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

About Prologis

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.