Strengthening Families & Communities LLC Sells 148 Shares of Prologis, Inc. $PLD

Strengthening Families & Communities LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 20,149 shares of the real estate investment trust’s stock after selling 148 shares during the quarter. Prologis makes up 1.2% of Strengthening Families & Communities LLC’s portfolio, making the stock its 28th largest position. Strengthening Families & Communities LLC’s holdings in Prologis were worth $2,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Nuveen LLC bought a new position in Prologis in the 1st quarter worth about $1,456,768,000. Valeo Financial Advisors LLC increased its stake in Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock worth $433,229,000 after acquiring an additional 2,862,183 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $1,113,994,000 after acquiring an additional 1,146,454 shares during the last quarter. Strs Ohio bought a new position in Prologis in the 1st quarter worth about $98,308,000. Finally, Vanguard Group Inc. increased its stake 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 worth $13,564,533,000 after acquiring an additional 869,310 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Citigroup cut their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Evercore ISI upped their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Two investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Trading Down 2.8%

Shares of PLD stock opened at $111.29 on Friday. The stock has a market capitalization of $103.35 billion, a PE ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 1.28. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The business has a 50-day moving average of $111.79 and a 200 day moving average of $107.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued 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 3.6%. Prologis’s dividend payout ratio is currently 109.49%.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the transaction, the director directly owned 9,329 shares of the company’s stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

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.