Mendel Money Management Buys 230 Shares of Prologis, Inc. $PLD

Mendel Money Management lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,032 shares of the real estate investment trust’s stock after acquiring an additional 230 shares during the period. Mendel Money Management’s holdings in Prologis were worth $529,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Activest Wealth Management grew its position in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. Pandora Wealth Inc. bought a new position in Prologis in the first quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the first quarter valued at $34,000. Saudi Central Bank bought a new position in Prologis in the first quarter valued at $41,000. Finally, Olde Wealth Management LLC bought a new position in Prologis in the first quarter valued at $43,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research report on Monday, October 20th. Citigroup decreased their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Wells Fargo & Company raised their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.56.

Prologis Stock Down 1.0%

Prologis stock opened at $125.80 on Wednesday. The firm has a market capitalization of $116.82 billion, a PE ratio of 36.68, a P/E/G ratio of 3.22 and a beta of 1.28. The company’s 50-day moving average is $115.93 and its 200-day moving average is $109.62. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. 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 released its quarterly earnings data 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. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Prologis’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date 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 117.78%.

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.