Nekton Capital Ltd. Buys 4,392 Shares of Prologis, Inc. $PLD

Nekton Capital Ltd. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 44,473 shares of the real estate investment trust’s stock after purchasing an additional 4,392 shares during the period. Prologis accounts for about 9.5% of Nekton Capital Ltd.’s holdings, making the stock its 5th biggest position. Nekton Capital Ltd.’s holdings in Prologis were worth $4,675,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Prologis in the 1st quarter worth about $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth about $41,000. Barrett & Company Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth about $44,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter valued at approximately $44,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 1.0%

PLD stock opened at $126.75 on Tuesday. The stock has a market capitalization of $117.74 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 3.93 and a beta of 1.39. The company has a 50-day moving average of $123.29 and a two-hundred day moving average of $114.06. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $130.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate 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 $2.21 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The firm’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. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLD. Mizuho raised their price objective on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Truist Financial restated a “buy” rating and set a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a research note on Monday, December 1st. Evercore ISI raised their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two 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’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $126.78.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,621 shares of company stock worth $198,655 over the last 90 days. Insiders own 0.57% of the company’s stock.

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.