ProShare Advisors LLC Boosts Holdings in Prologis, Inc. $PLD

ProShare Advisors LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 7.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,454 shares of the real estate investment trust’s stock after purchasing an additional 14,141 shares during the quarter. ProShare Advisors LLC’s holdings in Prologis were worth $21,072,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. Activest Wealth Management raised its holdings in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the first quarter worth $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter valued at about $41,000. Finally, Barrett & Company Inc. acquired a new position in shares of Prologis in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Scotiabank boosted their price target on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday. UBS Group set a $133.00 price objective on Prologis in a research note on Monday. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Truist Financial reissued a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.39.

Insider Buying and Selling

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business’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 owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director directly owned 8,829 shares in the company, valued at $1,087,203.06. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,000 shares of company stock worth $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $126.24 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The business has a 50-day moving average of $118.46 and a 200-day moving average of $111.40. The company has a market capitalization of $117.26 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last announced its 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. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. 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.