Sagespring Wealth Partners LLC Has $827,000 Stake in Prologis, Inc. $PLD

Sagespring Wealth Partners LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,866 shares of the real estate investment trust’s stock after selling 966 shares during the period. Sagespring Wealth Partners LLC’s holdings in Prologis were worth $827,000 at the end of the most recent quarter.

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

Prologis Price Performance

PLD stock opened at $122.83 on Thursday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The firm has a 50 day simple moving average of $112.45 and a two-hundred day simple moving average of $107.91. The stock has a market cap of $114.07 billion, a PE ratio of 33.29, a P/E/G ratio of 2.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal 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 given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.3%. Prologis’s dividend payout ratio is presently 109.49%.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. Evercore ISI upped their target price on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was 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 disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $2,952,095 in the last ninety days. 0.57% of the stock is currently owned by insiders.

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.