QRG Capital Management Inc. Sells 386 Shares of Prologis, Inc. $PLD

QRG Capital Management Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,033 shares of the real estate investment trust’s stock after selling 386 shares during the period. QRG Capital Management Inc.’s holdings in Prologis were worth $12,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PLD. Nuveen LLC acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $1,456,768,000. Valeo Financial Advisors LLC boosted its stake in shares of Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after purchasing an additional 2,862,183 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Prologis by 5,678.8% in the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust’s stock valued at $160,617,000 after purchasing an additional 1,411,910 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Prologis in the 1st quarter valued at approximately $98,308,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI lifted their target price on shares of Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

Prologis Stock Up 0.8%

Prologis stock opened at $117.09 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The firm has a 50 day moving average price of $111.03 and a two-hundred day moving average price of $107.59. The firm has a market cap of $108.69 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.96 and a beta of 1.28.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.34 EPS. The company’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. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued 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 dividend payout ratio (DPR) is presently 109.49%.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% 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. Company insiders own 0.57% of the company’s stock.

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.