Prologis, Inc. $PLD Shares Sold by Balentine LLC

Balentine LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 72.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,027 shares of the real estate investment trust’s stock after selling 5,261 shares during the quarter. Balentine LLC’s holdings in Prologis were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis in the first quarter valued at approximately $34,000. Saudi Central Bank acquired a new stake in shares of Prologis in the first quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Prologis in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’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 in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’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 owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PLD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a report on Monday, October 20th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Barclays cut their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.56.

Prologis Price Performance

PLD stock opened at $124.31 on Friday. The business has a fifty day moving average of $116.76 and a two-hundred day moving average of $110.10. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $115.44 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted $1.43 earnings per share. The company’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, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 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.