Cyndeo Wealth Partners LLC Increases Stock Holdings in Prologis, Inc. $PLD

Cyndeo Wealth Partners LLC grew its position in Prologis, Inc. (NYSE:PLD) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,312 shares of the real estate investment trust’s stock after buying an additional 1,524 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Prologis were worth $6,025,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new stake in Prologis during the 1st quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. increased its position in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after purchasing an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Prologis by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after purchasing an additional 507,367 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLD. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research report on Wednesday. Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Prologis Stock Performance

NYSE PLD opened at $114.40 on Friday. The firm has a market capitalization of $106.24 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.93 and a beta of 1.28. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. 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 business’s 50-day simple moving average is $111.66 and its 200-day simple moving average is $107.77.

Prologis (NYSE:PLD) last released its quarterly earnings data 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 analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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

Insider Activity

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred 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 directly 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. Insiders sold a total of 26,500 shares of company stock worth $2,952,095 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.