Prologis, Inc. $PLD Shares Sold by Syntax Research Inc.

Syntax Research Inc. reduced its position in Prologis, Inc. (NYSE:PLD) by 11.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,352 shares of the real estate investment trust’s stock after selling 3,716 shares during the quarter. Prologis comprises approximately 2.1% of Syntax Research Inc.’s holdings, making the stock its 15th largest position. Syntax Research Inc.’s holdings in Prologis were worth $2,980,000 at the end of the most recent quarter.

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

Prologis Price Performance

PLD stock opened at $116.22 on Friday. The business has a 50 day moving average price of $110.90 and a 200 day moving average price of $107.59. The stock has a market cap of $107.88 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 2.94 and a beta of 1.28. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two 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.

Prologis (NYSE:PLD) last posted 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 firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis’s payout ratio is presently 109.49%.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction 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 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 sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the subject of several research reports. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Citigroup decreased their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. 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 investment 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 stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target 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.