Presima Securities ULC Sells 416,710 Shares of Prologis, Inc. $PLD

Presima Securities ULC cut its stake in Prologis, Inc. (NYSE:PLD) by 92.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,233 shares of the real estate investment trust’s stock after selling 416,710 shares during the quarter. Prologis comprises approximately 0.9% of Presima Securities ULC’s holdings, making the stock its 20th largest holding. Presima Securities ULC’s holdings in Prologis were worth $3,809,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management lifted 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 worth $29,000 after buying an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the first quarter worth $34,000. Saudi Central Bank bought a new stake in Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis in the first quarter worth $43,000. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 $46,090.62. The trade was a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research note on Monday, October 20th. Evercore ISI increased their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $124.56.

Prologis Price Performance

PLD opened at $124.31 on Friday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $116.76 and its 200-day simple moving average is $110.10. The company has a market capitalization of $115.44 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.13 and a beta of 1.28.

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

Prologis Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. 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.