BROOKFIELD Corp ON Sells 140,332 Shares of Prologis, Inc. $PLD

BROOKFIELD Corp ON trimmed its position in Prologis, Inc. (NYSE:PLD) by 34.3% during the first quarter, Holdings Channel reports. The institutional investor owned 268,809 shares of the real estate investment trust’s stock after selling 140,332 shares during the quarter. BROOKFIELD Corp ON’s holdings in Prologis were worth $30,050,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management boosted its position in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. REAP Financial Group LLC boosted its position in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares during the last quarter. Pandora Wealth Inc. bought a new position in Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the 1st quarter valued at $34,000. Finally, Saudi Central Bank bought a new stake in shares of Prologis during the 1st quarter valued at $41,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 3.7%

Shares of NYSE PLD opened at $115.09 on Friday. The company’s fifty day moving average is $109.03 and its 200-day moving average is $108.10. The stock has a market cap of $106.83 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.78 and a beta of 1.26. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction 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 completion of the sale, the director 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 sale, 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 disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Citigroup dropped 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. Finally, UBS Group upped their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.83.

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.