Gateway Investment Advisers LLC Buys 31,093 Shares of Prologis, Inc. $PLD

Gateway Investment Advisers LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 14.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 248,092 shares of the real estate investment trust’s stock after acquiring an additional 31,093 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Prologis were worth $26,079,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management lifted its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. REAP Financial Group LLC lifted its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 84 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis during the first quarter valued at $34,000. Finally, Saudi Central Bank bought a new position in shares of Prologis during the first quarter valued at $41,000. 93.50% of the stock is owned by institutional investors.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Prologis Price Performance

Shares of PLD opened at $113.95 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day simple moving average of $109.48 and a 200 day simple moving average of $107.82. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $130.05. The firm has a market capitalization of $105.78 billion, a PE ratio of 30.88, a P/E/G ratio of 2.87 and a beta of 1.26.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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 return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $1.34 EPS. Prologis’s quarterly 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. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $1.01 dividend. 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 Analysts Forecast Growth

PLD has been the subject of a number of research analyst reports. Barclays cut their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the company from $118.00 to $130.00 in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $122.58.

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.