Oakworth Capital Inc. Raises Stake in Prologis, Inc. $PLD

Oakworth Capital Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 25.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 733 shares of the real estate investment trust’s stock after buying an additional 150 shares during the period. Oakworth Capital Inc.’s holdings in Prologis were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PLD. Activest Wealth Management boosted its holdings in shares of Prologis by 637.1% in the 1st 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 last quarter. Pandora Wealth Inc. purchased a new stake in Prologis in the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis during the first quarter worth $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth about $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the 1st quarter worth about $43,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated 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 represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Down 0.1%

Shares of NYSE:PLD opened at $114.11 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $105.92 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. The firm’s 50-day moving average is $110.53 and its two-hundred day moving average is $107.47. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65.

Prologis (NYSE:PLD) last announced 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. 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 in the prior year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 3.5%. Prologis’s dividend payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Evercore ISI raised their price target on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Barclays decreased 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 given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

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.