HBK Sorce Advisory LLC Sells 167 Shares of Prologis, Inc. $PLD

HBK Sorce Advisory LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,350 shares of the real estate investment trust’s stock after selling 167 shares during the period. HBK Sorce Advisory LLC’s holdings in Prologis were worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the first quarter worth about $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter worth approximately $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis during the first quarter worth approximately $43,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD opened at $123.37 on Thursday. The company has a market capitalization of $114.57 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $116.20 and a 200 day moving average of $109.81.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business’s revenue for the quarter 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, sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is currently 117.78%.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The shares were 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 approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 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.

Analyst Ratings Changes

A number of brokerages have recently commented on PLD. Wells Fargo & Company raised their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. UBS Group set a $137.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reissued 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 given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.56.

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.