RKL Wealth Management LLC Grows Position in Prologis, Inc. $PLD

RKL Wealth Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,019 shares of the real estate investment trust’s stock after purchasing an additional 546 shares during the quarter. RKL Wealth Management LLC’s holdings in Prologis were worth $1,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Woodward Diversified Capital LLC boosted its stake in Prologis by 83.4% in the 2nd quarter. Woodward Diversified Capital LLC now owns 5,164 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 2,348 shares during the period. Community Financial Services Group LLC increased its stake in Prologis by 0.3% in the 2nd quarter. Community Financial Services Group LLC now owns 57,219 shares of the real estate investment trust’s stock worth $6,015,000 after purchasing an additional 168 shares during the period. First Pacific Financial increased its stake in shares of Prologis by 5,716.0% during the second quarter. First Pacific Financial now owns 17,855 shares of the real estate investment trust’s stock valued at $1,877,000 after buying an additional 17,548 shares during the period. Trust Co. of Vermont increased its stake in shares of Prologis by 29.7% during the second quarter. Trust Co. of Vermont now owns 52,198 shares of the real estate investment trust’s stock valued at $5,487,000 after buying an additional 11,968 shares during the period. Finally, Ninety One UK Ltd increased its stake in shares of Prologis by 482.6% during the second quarter. Ninety One UK Ltd now owns 108,886 shares of the real estate investment trust’s stock valued at $11,446,000 after buying an additional 90,197 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief accounting officer 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 disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Prologis Stock Up 1.7%

Shares of PLD stock opened at $116.47 on Thursday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The stock’s fifty day moving average price is $110.77 and its 200 day moving average price is $107.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $108.11 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is 109.49%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PLD shares. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Evercore ISI raised their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Scotiabank set a $114.00 target price on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.58.

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.