Prologis, Inc. $PLD Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its holdings in Prologis, Inc. (NYSE:PLD) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 47,302 shares of the real estate investment trust’s stock after selling 3,054 shares during the period. Ritholtz Wealth Management’s holdings in Prologis were worth $4,972,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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 during the period. Nuveen LLC purchased a new stake in Prologis in the first quarter valued at approximately $1,456,768,000. Charles Schwab Investment Management Inc. raised its position in Prologis by 0.9% in the first 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 period. Price T Rowe Associates Inc. MD lifted its stake in Prologis by 13.0% during the first 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. boosted its position in shares of Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after buying an additional 507,367 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLD. UBS Group boosted their price objective on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated 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 sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated 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 directly 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 can be found here. In the last quarter, insiders have sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $115.44 on Wednesday. The business has a 50-day simple moving average of $112.11 and a 200-day simple moving average of $107.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company has a market cap of $107.20 billion, a PE ratio of 31.28, a P/E/G ratio of 2.85 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal 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 given a dividend of $1.01 per share. 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 109.49%.

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.