StrongBox Wealth LLC Sells 13,879 Shares of Prologis, Inc. $PLD

StrongBox Wealth LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 80.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,422 shares of the real estate investment trust’s stock after selling 13,879 shares during the period. StrongBox Wealth LLC’s holdings in Prologis were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Activest Wealth Management raised its position 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 purchasing an additional 223 shares during the period. GKV Capital Management Co. Inc. bought a new stake in Prologis during the 1st quarter valued at $34,000. Saudi Central Bank acquired a new position in Prologis during the first quarter worth $41,000. Barrett & Company Inc. bought a new position in shares of Prologis in the second quarter valued at $44,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Prologis during the second quarter valued at about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $127.73 on Wednesday. The company has a market capitalization of $118.64 billion, a PE ratio of 37.24, a PEG ratio of 4.01 and a beta of 1.40. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $124.87 and its 200-day moving average price is $115.02. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $131.70.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $1.43 earnings per share. Prologis’s quarterly 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. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated 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 sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,621 shares of company stock worth $198,655 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLD. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a report on Monday, October 20th. Barclays decreased their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Truist Financial restated a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Evercore ISI lifted their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings upgraded Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.88.

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.