IFC Advisors LLC Has $1.57 Million Stock Holdings in Prologis, Inc. $PLD

IFC Advisors LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 620.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,899 shares of the real estate investment trust’s stock after purchasing an additional 12,830 shares during the quarter. IFC Advisors LLC’s holdings in Prologis were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alley Investment Management Company LLC lifted its stake in shares of 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 during the period. Jump Financial LLC acquired a new position in shares of Prologis in the 1st quarter valued at about $2,120,000. Truist Financial Corp lifted its stake in shares of 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 during the period. Ally Financial Inc. lifted its stake in shares of 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 during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock valued at $33,249,000 after purchasing an additional 6,350 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s 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 transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI upped their price target on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Finally, UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two 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. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $122.58.

Prologis Stock Performance

Shares of Prologis stock opened at $112.67 on Tuesday. The company has a market cap of $104.64 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $111.94 and a 200-day moving average price of $107.75. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. Prologis’s dividend payout ratio is currently 109.49%.

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.