Nisa Investment Advisors LLC Decreases Stock Position in Prologis, Inc. $PLD

Nisa Investment Advisors LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 14.8% in the second quarter, Holdings Channel reports. The firm owned 382,555 shares of the real estate investment trust’s stock after selling 66,339 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Prologis were worth $40,214,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares during the period. GAMMA Investing LLC increased its stake in shares of Prologis by 19.6% in the 1st quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock worth $1,333,000 after purchasing an additional 1,956 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Prologis by 157.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,421 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 1,479 shares during the period. Perigon Wealth Management LLC raised its position in shares of Prologis by 2.6% during the first quarter. Perigon Wealth Management LLC now owns 8,018 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 206 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Prologis by 12.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,813 shares of the real estate investment trust’s stock valued at $1,544,000 after acquiring an additional 1,500 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’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 completion of the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLD shares. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Saturday. Finally, Truist Financial reissued a “buy” rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.44.

Prologis Price Performance

Shares of PLD opened at $126.60 on Friday. The company has a 50 day moving average of $115.20 and a two-hundred day moving average of $109.13. The company has a market cap of $117.57 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $1.43 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

About Prologis

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.