Prologis, Inc. $PLD Shares Sold by LRI Investments LLC

LRI Investments LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,275 shares of the real estate investment trust’s stock after selling 439 shares during the period. LRI Investments LLC’s holdings in Prologis were worth $1,080,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Meritage Portfolio Management acquired a new stake in Prologis during the 2nd quarter worth $2,048,000. CWM LLC raised its position in Prologis by 10.4% during the 2nd quarter. CWM LLC now owns 30,472 shares of the real estate investment trust’s stock worth $3,203,000 after buying an additional 2,876 shares during the last quarter. Advocate Group LLC raised its position in Prologis by 4.1% during the 2nd quarter. Advocate Group LLC now owns 38,852 shares of the real estate investment trust’s stock worth $4,084,000 after buying an additional 1,524 shares during the last quarter. OFI Invest Asset Management raised its position in Prologis by 5.2% during the 2nd quarter. OFI Invest Asset Management now owns 346,753 shares of the real estate investment trust’s stock worth $36,451,000 after buying an additional 17,011 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in Prologis by 31.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 38,815 shares of the real estate investment trust’s stock worth $4,080,000 after buying an additional 9,244 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the 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 completion of the sale, the director directly owned 9,329 shares in the company, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Citigroup cut their price objective 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. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Evercore ISI upped their price objective 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, Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Price Performance

Shares of NYSE PLD opened at $111.29 on Friday. The stock has a market cap of $103.35 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.81 and a beta of 1.28. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The company’s 50-day moving average price is $111.79 and its 200 day moving average price is $107.76. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

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

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 109.49%.

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.