Western Wealth Management LLC Has $428,000 Stock Position in Prologis, Inc. $PLD

Western Wealth Management LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,074 shares of the real estate investment trust’s stock after selling 707 shares during the period. Western Wealth Management LLC’s holdings in Prologis were worth $428,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in Prologis in the 1st quarter valued at about $1,456,768,000. Price T Rowe Associates Inc. MD boosted its position in shares of Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Strs Ohio acquired a new stake in shares of Prologis during the 1st quarter worth approximately $98,308,000. Vanguard Group Inc. increased its stake in Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in Prologis by 18.4% during the second quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock valued at $362,905,000 after purchasing an additional 535,703 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLD shares. Barclays cut their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI raised their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prologis in a research note on Thursday, November 13th. Finally, Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and increased their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Trading Up 0.3%

Shares of PLD stock opened at $123.88 on Wednesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The stock’s fifty day simple moving average is $119.58 and its 200 day simple moving average is $112.11. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $115.07 billion, a P/E ratio of 36.12, a P/E/G ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced 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 Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

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.