Legacy Wealth Asset Management LLC Trims Position in Prologis, Inc. $PLD

Legacy Wealth Asset Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 18.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,511 shares of the real estate investment trust’s stock after selling 1,209 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Prologis were worth $579,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLD. Activest Wealth Management increased its position in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the first quarter worth approximately $34,000. Saudi Central Bank purchased a new position in Prologis during the 1st quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new position in Prologis during the 1st quarter worth $43,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday. UBS Group set a $137.00 price objective on Prologis and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research report on Monday. Finally, Citigroup reduced their price target on shares of 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, ten have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.44.

Prologis Trading Down 0.8%

Shares of NYSE PLD opened at $126.11 on Wednesday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The business has a fifty day moving average price of $114.01 and a 200 day moving average price of $108.40. The stock has a market capitalization of $117.11 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

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.