Bourgeon Capital Management LLC Buys 32,524 Shares of Prologis, Inc. $PLD

Bourgeon Capital Management LLC boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 59.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,803 shares of the real estate investment trust’s stock after purchasing an additional 32,524 shares during the quarter. Prologis comprises 1.8% of Bourgeon Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Bourgeon Capital Management LLC’s holdings in Prologis were worth $9,125,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Activest Wealth Management raised its stake in Prologis by 637.1% during the 1st 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 during the period. Pandora Wealth Inc. bought a new stake in Prologis during the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the 1st quarter valued at approximately $34,000. Saudi Central Bank bought a new stake in Prologis during the 1st quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC purchased a new position in Prologis during the 1st quarter valued at approximately $43,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD opened at $114.11 on Tuesday. The business has a fifty day moving average of $110.53 and a 200 day moving average of $107.47. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $105.92 billion, a P/E ratio of 30.92, a PEG ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $1.34 EPS. 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. 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis’s payout ratio is 109.49%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLD. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. 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, September 15th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $122.58.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

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.