Pittenger & Anderson Inc. Has $56,000 Stake in Prologis, Inc. $PLD

Pittenger & Anderson Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 23.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 531 shares of the real estate investment trust’s stock after purchasing an additional 100 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Prologis were worth $56,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Brighton Jones LLC grew its position in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Prologis by 19.6% in the first quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $1,333,000 after purchasing an additional 1,956 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Prologis by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,605 shares of the real estate investment trust’s stock valued at $6,216,000 after purchasing an additional 4,851 shares during the last quarter. Palumbo Wealth Management LLC grew its position in shares of Prologis by 15.9% in the first quarter. Palumbo Wealth Management LLC now owns 2,344 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 321 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Prologis by 2.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 35,532 shares of the real estate investment trust’s stock valued at $3,972,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director directly owned 9,329 shares in the company, valued at $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $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. Insiders have sold 26,500 shares of company stock valued at $2,952,095 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PLD. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Industrial Alliance Securities set a $119.00 price target on Prologis in a research report on Monday. Evercore ISI increased their price target on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.44.

Prologis Stock Down 0.8%

NYSE PLD opened at $126.11 on Wednesday. The business has a fifty day moving average price of $114.01 and a two-hundred day moving average price of $108.40. 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, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The stock has a market capitalization of $117.11 billion, a PE ratio of 36.77, a PEG ratio of 3.20 and a beta of 1.28.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities analysts expect 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. 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 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

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.