Geode Capital Management LLC Buys 310,333 Shares of Prologis, Inc. $PLD

Geode Capital Management LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 22,416,833 shares of the real estate investment trust’s stock after buying an additional 310,333 shares during the quarter. Geode Capital Management LLC’s holdings in Prologis were worth $2,345,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Activest Wealth Management lifted its stake in shares of 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 in the last quarter. Pandora Wealth Inc. bought a new position in Prologis in the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis during the 1st quarter valued at $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the 1st quarter worth $41,000. Finally, Barrett & Company Inc. purchased a new position in shares of Prologis in the second quarter worth $44,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLD shares. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research report on Monday, October 20th. UBS Group set a $133.00 price target on Prologis in a research note on Monday. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Evercore ISI boosted their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Finally, Barclays reduced their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Insider Activity

In other news, 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 transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,000 shares of company stock worth $3,013,665 in the last quarter. 0.57% of the stock is owned by insiders.

Prologis Stock Up 1.1%

NYSE PLD opened at $126.24 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The firm has a market capitalization of $117.26 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.13 and a beta of 1.29. The company has a fifty day moving average of $118.46 and a two-hundred day moving average of $111.40.

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

Prologis Dividend Announcement

The business also recently disclosed 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 (DPR) is presently 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.