Waratah Capital Advisors Ltd. Has $7.81 Million Stake in Prologis, Inc. $PLD

Waratah Capital Advisors Ltd. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 51.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,292 shares of the real estate investment trust’s stock after selling 79,410 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Prologis were worth $7,810,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MTM Investment Management LLC bought a new stake in Prologis in the 2nd quarter valued at approximately $153,000. Avantax Advisory Services Inc. grew its stake in shares of Prologis by 4.1% during the 2nd quarter. Avantax Advisory Services Inc. now owns 54,855 shares of the real estate investment trust’s stock worth $5,766,000 after acquiring an additional 2,137 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Prologis by 5.2% in the second quarter. Westwood Holdings Group Inc. now owns 696,705 shares of the real estate investment trust’s stock valued at $73,238,000 after purchasing an additional 34,329 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Prologis by 8.2% in the second quarter. Cetera Investment Advisers now owns 239,858 shares of the real estate investment trust’s stock worth $25,214,000 after purchasing an additional 18,141 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Prologis by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 528,162 shares of the real estate investment trust’s stock worth $55,520,000 after purchasing an additional 15,618 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.0%

PLD stock opened at $122.71 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The business’s 50 day simple moving average is $119.14 and its 200 day simple moving average is $111.77. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $113.98 billion, a PE ratio of 35.78, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 $2.21 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 EPS 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 paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis’s dividend payout ratio is 117.78%.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research note on Monday, October 20th. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Finally, UBS Group set a $133.00 price objective on Prologis in a report on Monday, November 10th. 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. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

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.