Verde Capital Management Buys 1,146 Shares of Prologis, Inc. $PLD

Verde Capital Management lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.8% in the second quarter, HoldingsChannel.com reports. The fund owned 18,056 shares of the real estate investment trust’s stock after acquiring an additional 1,146 shares during the quarter. Verde Capital Management’s holdings in Prologis were worth $1,898,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. Brighton Jones LLC lifted its holdings in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Prologis by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 182,861 shares of the real estate investment trust’s stock worth $19,328,000 after acquiring an additional 11,645 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Prologis during the 4th quarter worth $387,000. Royal Bank of Canada raised its position in Prologis by 3.3% in the 4th quarter. Royal Bank of Canada now owns 4,686,333 shares of the real estate investment trust’s stock worth $495,347,000 after purchasing an additional 150,200 shares during the period. Finally, Toronto Dominion Bank raised its position in Prologis by 8.2% in the 4th quarter. Toronto Dominion Bank now owns 498,725 shares of the real estate investment trust’s stock worth $52,715,000 after purchasing an additional 37,661 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related 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 transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, 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 SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $115.48 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day moving average is $109.18 and its 200 day moving average is $107.95. The stock has a market capitalization of $107.20 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. Prologis’s quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis’s payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. UBS Group lifted their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Wall Street Zen cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.83.

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.