Creative Planning Sells 15,849 Shares of Prologis, Inc. $PLD

Creative Planning reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 14.4% in the second quarter, Holdings Channel reports. The firm owned 94,266 shares of the real estate investment trust’s stock after selling 15,849 shares during the period. Creative Planning’s holdings in Prologis were worth $9,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Prologis by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 528,162 shares of the real estate investment trust’s stock valued at $55,520,000 after buying an additional 15,618 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after acquiring an additional 253,338 shares in the last quarter. Advisors Capital Management LLC boosted its position in shares of Prologis by 4.0% during the 2nd quarter. Advisors Capital Management LLC now owns 225,420 shares of the real estate investment trust’s stock valued at $23,696,000 after acquiring an additional 8,693 shares during the last quarter. Burling Wealth Partners LLC grew its holdings in shares of Prologis by 33.0% during the second quarter. Burling Wealth Partners LLC now owns 23,113 shares of the real estate investment trust’s stock worth $2,430,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Hibernia Wealth Partners LLC bought a new position in shares of Prologis in the second quarter worth approximately $221,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.3%

PLD stock opened at $123.88 on Wednesday. The company has a market capitalization of $115.07 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company’s 50 day moving average price is $119.58 and its two-hundred day moving average price is $112.11.

Prologis (NYSE:PLD) last released 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. The company had revenue of $2.21 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%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. The trade was a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLD shares. Evercore ISI lifted 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a report on Thursday, November 13th. Citigroup cut 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 raised their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $125.39.

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.