Palumbo Wealth Management LLC Sells 367 Shares of Prologis, Inc. $PLD

Palumbo Wealth Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 15.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,977 shares of the real estate investment trust’s stock after selling 367 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Prologis were worth $208,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Activest Wealth Management grew its position 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 purchasing an additional 223 shares in the last quarter. Pandora Wealth Inc. bought a new position in Prologis during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis during the first quarter valued at approximately $34,000. Saudi Central Bank purchased a new position in Prologis during the 1st quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis in the 1st quarter worth approximately $43,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD opened at $113.10 on Friday. The business has a fifty day moving average of $110.25 and a 200 day moving average of $107.55. The stock has a market cap of $104.99 billion, a P/E ratio of 30.65, a PEG ratio of 2.85 and a beta of 1.26. 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.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis’s dividend payout ratio is currently 109.49%.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer 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. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PLD. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI upped their target price on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. UBS Group boosted their price objective on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

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.