Prologis, Inc. $PLD Shares Sold by Key Financial Inc

Key Financial Inc cut its position in shares of Prologis, Inc. (NYSE:PLD) by 55.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415 shares of the real estate investment trust’s stock after selling 515 shares during the period. Key Financial Inc’s holdings in Prologis were worth $44,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after purchasing an additional 869,310 shares during the last quarter. Nuveen LLC acquired a new position in Prologis in the 1st quarter valued at about $1,456,768,000. Charles Schwab Investment Management Inc. boosted its holdings in Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after purchasing an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock valued at $870,871,000 after purchasing an additional 507,367 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the sale, the director directly owned 8,829 shares in the company, valued at approximately $1,087,203.06. The trade was a 5.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Evercore ISI boosted their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Truist Financial reissued a “buy” rating and issued a $131.00 price target (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Finally, Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.56.

Prologis Price Performance

Shares of PLD opened at $123.99 on Wednesday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The firm’s 50 day moving average price is $117.26 and its 200 day moving average price is $110.56. The company has a market cap of $115.17 billion, a P/E ratio of 36.15, a PEG ratio of 3.13 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’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, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. 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 dividend payout ratio is presently 117.78%.

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.