Prologis, Inc. $PLD Stock Holdings Decreased by Davis Selected Advisers

Davis Selected Advisers lessened its position in Prologis, Inc. (NYSE:PLD) by 24.8% in the 2nd quarter, Holdings Channel reports. The fund owned 129,226 shares of the real estate investment trust’s stock after selling 42,530 shares during the period. Davis Selected Advisers’ holdings in Prologis were worth $13,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management grew its holdings in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the first quarter valued at about $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter worth about $41,000. Finally, Barrett & Company Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. Evercore ISI increased their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Scotiabank increased their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Price Performance

Shares of Prologis stock opened at $123.92 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The firm has a fifty day moving average price of $118.96 and a two-hundred day moving average price of $111.58. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The company has a market cap of $115.10 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is presently 117.78%.

Insider Buying and Selling at Prologis

In other Prologis news, 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 directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the sale, the director owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This trade represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by insiders.

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.