Aviva PLC Purchases 48,479 Shares of Prologis, Inc. $PLD

Aviva PLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 834,408 shares of the real estate investment trust’s stock after buying an additional 48,479 shares during the period. Aviva PLC’s holdings in Prologis were worth $87,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in shares of Prologis during the 1st quarter worth approximately $2,120,000. Ally Financial Inc. boosted its position in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares in the last quarter. Inspire Investing LLC grew its stake in Prologis by 9.0% in the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after purchasing an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Prologis in the first quarter worth $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in Prologis by 14.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after buying an additional 8,470 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent research reports. BMO Capital Markets raised shares of 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, October 20th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. Evercore ISI raised their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.56.

Prologis Stock Up 1.3%

Prologis stock opened at $125.57 on Friday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The stock has a fifty day simple moving average of $117.94 and a two-hundred day simple moving average of $111.01. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market cap of $116.64 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm 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 predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is presently 117.78%.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction on 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 sale, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on 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 $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by insiders.

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.