Westpac Banking Corp Trims Stock Holdings in Prologis, Inc. $PLD

Westpac Banking Corp lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,761 shares of the real estate investment trust’s stock after selling 2,730 shares during the quarter. Westpac Banking Corp’s holdings in Prologis were worth $7,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its stake 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 purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in Prologis during the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis in the 1st quarter worth approximately $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter valued at $41,000. Finally, Barrett & Company Inc. purchased a new position in shares of Prologis during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were 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 trade represents a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 27,000 shares of company stock valued at $3,013,665. Insiders own 0.57% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $122.71 on Friday. The firm has a fifty day moving average of $119.14 and a 200-day moving average of $111.77. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. 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 capitalization of $113.98 billion, a P/E ratio of 35.78, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis’s dividend payout ratio is presently 117.78%.

Analysts Set New Price Targets

PLD has been the subject of several analyst reports. Scotiabank upped their target price on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Citigroup decreased their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Finally, Evercore ISI increased their price target on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.