Bleakley Financial Group LLC Trims Holdings in Prologis, Inc. $PLD

Bleakley Financial Group LLC trimmed its position in Prologis, Inc. (NYSE:PLD) by 4.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,857 shares of the real estate investment trust’s stock after selling 758 shares during the quarter. Bleakley Financial Group LLC’s holdings in Prologis were worth $1,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its position in Prologis by 0.7% during the second quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after buying an additional 93 shares in the last quarter. Michael S. Ryan Inc. raised its position in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock valued at $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC raised its position in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 96 shares during the period. Van Hulzen Asset Management LLC raised its position in Prologis by 5.6% in the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 96 shares during the period. Finally, Sandler Capital Management raised its position in Prologis by 5.3% in the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research report on Monday. Finally, UBS Group set a $137.00 target price on Prologis and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $124.44.

Prologis Trading Up 0.7%

Shares of NYSE PLD opened at $126.60 on Friday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $115.20 and a 200-day simple moving average of $109.00. The stock has a market capitalization of $117.57 billion, a PE ratio of 36.91, a PEG ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating 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 $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is presently 117.78%.

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.