Freedom Investment Management Inc. Has $836,000 Position in Prologis, Inc. $PLD

Freedom Investment Management Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,955 shares of the real estate investment trust’s stock after buying an additional 245 shares during the period. Freedom Investment Management Inc.’s holdings in Prologis were worth $836,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alley Investment Management Company LLC increased its holdings in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock worth $12,111,000 after buying an additional 54,914 shares during the last quarter. Jump Financial LLC acquired a new position in Prologis during the first quarter worth $2,120,000. Truist Financial Corp increased its holdings in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock worth $33,232,000 after buying an additional 25,229 shares during the last quarter. Ally Financial Inc. increased its holdings in Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after buying an additional 4,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Prologis by 2.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock worth $33,249,000 after buying an additional 6,350 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

NYSE:PLD opened at $126.60 on Friday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market cap of $117.57 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.19 and a beta of 1.28. The firm’s fifty day moving average price is $115.20 and its two-hundred day moving average price is $109.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last released its quarterly 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. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $1.43 earnings per share. Prologis’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. Equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio is 117.78%.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLD shares. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a report on Monday. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. UBS Group set a $137.00 price objective on shares of Prologis and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI upped their price objective on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $124.44.

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.