J.Safra Asset Management Corp Acquires 121 Shares of Prologis, Inc. $PLD

J.Safra Asset Management Corp increased its holdings in Prologis, Inc. (NYSE:PLD) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 1,628 shares of the real estate investment trust’s stock after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp’s holdings in Prologis were worth $172,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLD. Michael S. Ryan Inc. boosted its holdings in Prologis by 2.9% during the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 94 shares during the period. LaSalle St. Investment Advisors LLC boosted its holdings in Prologis by 3.7% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 96 shares during the period. Van Hulzen Asset Management LLC boosted its holdings in Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after acquiring an additional 96 shares during the period. Sandler Capital Management boosted its holdings in Prologis by 5.3% during the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 100 shares during the period. Finally, Sunflower Bank N.A. boosted its holdings in Prologis by 3.9% during the second quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PLD. Barclays decreased their price target on shares of 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 target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Two investment 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 company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $122.58.

Prologis Stock Up 2.4%

Shares of PLD opened at $115.44 on Wednesday. The company has a 50-day simple moving average of $112.11 and a 200-day simple moving average of $107.80. The firm has a market capitalization of $107.20 billion, a P/E ratio of 31.28, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 52 week low of $85.35 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 earnings per share. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared 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. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $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 available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Corporate 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.