Ellevest Inc. Sells 1,145 Shares of Prologis, Inc. $PLD

Ellevest Inc. lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 16.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,612 shares of the real estate investment trust’s stock after selling 1,145 shares during the quarter. Ellevest Inc.’s holdings in Prologis were worth $590,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Jump Financial LLC bought a new stake in Prologis during the 1st quarter worth about $2,120,000. Ally Financial Inc. grew its holdings in Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Inspire Investing LLC grew its holdings in Prologis by 9.0% during the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after acquiring an additional 7,518 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Prologis in the 1st quarter valued at about $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Prologis by 14.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.1%

Prologis stock opened at $123.82 on Thursday. The company’s 50 day simple moving average is $117.48 and its 200 day simple moving average is $110.65. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The firm has a market capitalization of $115.01 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 3.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping 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 $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $1.43 EPS. Prologis’s quarterly revenue 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, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.3%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Analysts Set New Price Targets

PLD has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Barclays reduced their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Evercore ISI raised their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two 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 company’s stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $124.56.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’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 transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,000 shares of company stock worth $3,013,665 in the last three months. 0.57% of the stock is owned by insiders.

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.