19,482 Shares in Prologis, Inc. $PLD Bought by Meritage Portfolio Management

Meritage Portfolio Management bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,482 shares of the real estate investment trust’s stock, valued at approximately $2,048,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management lifted its stake in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis in the 1st quarter valued at $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Prologis in the 1st quarter valued at $43,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated 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. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Prologis Trading Down 2.8%

Shares of Prologis stock opened at $111.29 on Monday. 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 stock has a 50 day moving average price of $111.79 and a two-hundred day moving average price of $107.73. The stock has a market capitalization of $103.35 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28.

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

Prologis Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLD. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Evercore ISI lifted their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Finally, Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. 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 data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price 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.