TD Private Client Wealth LLC Reduces Position in Prologis, Inc. $PLD

TD Private Client Wealth LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 2.5% during the second quarter, HoldingsChannel reports. The firm owned 83,327 shares of the real estate investment trust’s stock after selling 2,108 shares during the period. TD Private Client Wealth LLC’s holdings in Prologis were worth $8,759,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. REAP Financial Group LLC boosted its holdings 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 purchasing an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the 1st quarter worth approximately $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter valued at approximately $41,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’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 transaction of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the 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 sale, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was 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 owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PLD. UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Barclays cut their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Two investment 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.58.

Prologis Stock Performance

Shares of Prologis stock opened at $114.45 on Wednesday. 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, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The firm’s 50 day moving average is $110.06 and its two-hundred day moving average is $107.55. The firm has a market capitalization of $106.24 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.88 and a beta of 1.26.

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

Prologis Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s dividend payout ratio is 109.49%.

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.