Prologis, Inc. $PLD Stake Lessened by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 20.9% in the 2nd quarter, Holdings Channel reports. The firm owned 26,269 shares of the real estate investment trust’s stock after selling 6,933 shares during the quarter. Cullinan Associates Inc.’s holdings in Prologis were worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC increased its stake in Prologis by 4.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 107,701 shares of the real estate investment trust’s stock valued at $11,322,000 after purchasing an additional 4,297 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Prologis by 6.8% during the second quarter. DAVENPORT & Co LLC now owns 37,246 shares of the real estate investment trust’s stock valued at $3,915,000 after purchasing an additional 2,369 shares during the last quarter. Beacon Financial Advisory LLC increased its stake in Prologis by 37.2% during the second quarter. Beacon Financial Advisory LLC now owns 4,241 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 1,149 shares during the last quarter. Simplicity Wealth LLC increased its stake in Prologis by 464.2% during the second quarter. Simplicity Wealth LLC now owns 11,464 shares of the real estate investment trust’s stock valued at $1,205,000 after purchasing an additional 9,432 shares during the last quarter. Finally, Brown Miller Wealth Management LLC increased its stake in Prologis by 3.8% during the second quarter. Brown Miller Wealth Management LLC now owns 17,624 shares of the real estate investment trust’s stock valued at $1,853,000 after purchasing an additional 643 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $117.09 on Monday. 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 firm has a market capitalization of $108.69 billion, a PE ratio of 31.73, a P/E/G ratio of 2.96 and a beta of 1.28. The firm has a 50-day moving average price of $111.03 and a 200 day moving average price of $107.56.

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

Prologis Announces Dividend

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

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director directly owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLD shares. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Evercore ISI upped their price target 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, Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.