Abundance Wealth Counselors Boosts Stake in Prologis, Inc. $PLD

Abundance Wealth Counselors grew its position in shares of Prologis, Inc. (NYSE:PLD) by 3.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,224 shares of the real estate investment trust’s stock after acquiring an additional 526 shares during the period. Abundance Wealth Counselors’ holdings in Prologis were worth $1,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Prologis by 0.7% during 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 period. Nuveen LLC purchased a new stake in shares of Prologis in the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after buying an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 buying an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after buying an additional 507,367 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Barclays cut their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, UBS Group increased their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Trading Down 0.2%

Prologis stock opened at $116.22 on Friday. 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, Inc. has a one year low of $85.35 and a one year high of $127.65. The stock has a market capitalization of $107.88 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.94 and a beta of 1.28. The business’s fifty day moving average is $110.90 and its 200 day moving average is $107.59.

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

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 109.49%.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on 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 in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 over the last three months. Insiders own 0.57% of the company’s stock.

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.