Rhumbline Advisers Has $190.87 Million Stake in Prologis, Inc. $PLD

Rhumbline Advisers cut its position in shares of Prologis, Inc. (NYSE:PLD) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,815,774 shares of the real estate investment trust’s stock after selling 34,102 shares during the quarter. Rhumbline Advisers’ holdings in Prologis were worth $190,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jump Financial LLC bought a new position in shares of Prologis in the 1st quarter worth $2,120,000. Ally Financial Inc. increased its stake in Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares in the last quarter. Inspire Investing LLC raised its holdings in Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after buying an additional 7,518 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Prologis in the first quarter valued at $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Prologis by 14.3% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after buying an additional 8,470 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $125.89 on Friday. 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 firm has a market cap of $116.94 billion, a PE ratio of 36.70, a P/E/G ratio of 3.13 and a beta of 1.29. The business has a 50 day moving average of $120.18 and a 200-day moving average of $112.40. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial reissued a “buy” rating and set a $131.00 target price (up from $120.00) on shares of Prologis in a research report on Monday, October 20th. Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research note on Monday, October 20th. Evercore ISI raised their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Finally, UBS Group set a $133.00 price target on Prologis in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is owned by company insiders.

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.