Advocate Group LLC Boosts Stake in Prologis, Inc. $PLD

Advocate Group LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,852 shares of the real estate investment trust’s stock after buying an additional 1,524 shares during the quarter. Advocate Group LLC’s holdings in Prologis were worth $4,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Brighton Jones LLC grew its position in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Prologis by 5.8% in the 1st quarter. Farther Finance Advisors LLC now owns 7,533 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 410 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Prologis by 24.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,107 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 605 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Prologis by 19.6% in the 1st quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock worth $1,333,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Prologis by 14.4% in the 1st quarter. Integrated Advisors Network LLC now owns 5,957 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 751 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,500 shares of company stock valued at $2,952,095. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLD shares. Evercore ISI upped their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Barclays cut their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. UBS Group upped their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Finally, Citigroup cut their price objective 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 given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Trading Down 2.8%

Shares of PLD stock opened at $111.29 on Friday. The stock has a market capitalization of $103.35 billion, a PE ratio of 30.16, a P/E/G ratio of 2.81 and a beta of 1.28. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The business has a 50-day moving average of $111.79 and a 200 day moving average of $107.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis’s dividend payout ratio (DPR) is 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.