Hixon Zuercher LLC Acquires 546 Shares of Prologis, Inc. $PLD

Hixon Zuercher LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.8% during the second quarter, Holdings Channel.com reports. The firm owned 19,916 shares of the real estate investment trust’s stock after acquiring an additional 546 shares during the quarter. Hixon Zuercher LLC’s holdings in Prologis were worth $2,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Activest Wealth Management lifted its holdings in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the first quarter valued at approximately $34,000. Saudi Central Bank acquired a new stake in Prologis during the 1st quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC bought a new position in Prologis during the 1st quarter worth approximately $43,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLD shares. Evercore ISI boosted their price target on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price objective on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, UBS Group set a $137.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.44.

Prologis Price Performance

Shares of NYSE PLD opened at $126.60 on Friday. The firm has a market capitalization of $117.57 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.20 and a beta of 1.28. The firm’s 50-day moving average price is $115.20 and its 200-day moving average price is $109.13. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $1.43 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 transaction, the chief accounting officer 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by company insiders.

About Prologis

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.