VCI Wealth Management LLC Increases Stock Position in Prologis, Inc. $PLD

VCI Wealth Management LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.1% during the second quarter, HoldingsChannel.com reports. The fund owned 14,409 shares of the real estate investment trust’s stock after purchasing an additional 1,674 shares during the quarter. VCI Wealth Management LLC’s holdings in Prologis were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Pittenger & Anderson Inc. grew its position in shares of Prologis by 23.2% during the second quarter. Pittenger & Anderson Inc. now owns 531 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 100 shares during the last quarter. Schnieders Capital Management LLC grew its position in shares of Prologis by 45.4% during the second quarter. Schnieders Capital Management LLC now owns 10,728 shares of the real estate investment trust’s stock worth $1,128,000 after acquiring an additional 3,350 shares during the last quarter. Calamos Wealth Management LLC grew its position in shares of Prologis by 1.5% during the second quarter. Calamos Wealth Management LLC now owns 108,759 shares of the real estate investment trust’s stock worth $11,433,000 after acquiring an additional 1,572 shares during the last quarter. Cidel Asset Management Inc. grew its position in shares of Prologis by 10.6% during the second quarter. Cidel Asset Management Inc. now owns 2,044 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 196 shares during the last quarter. Finally, Sigma Investment Counselors Inc. grew its position in shares of Prologis by 4.8% during the second quarter. Sigma Investment Counselors Inc. now owns 29,745 shares of the real estate investment trust’s stock worth $3,127,000 after acquiring an additional 1,349 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLD. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Evercore ISI lifted their price objective on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, UBS Group lifted their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Prologis Price Performance

Prologis stock opened at $127.33 on Tuesday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. The business has a fifty day moving average of $113.58 and a two-hundred day moving average of $108.28. The company has a market cap of $118.24 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $1.43 earnings per share. Prologis’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. As a group, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is 117.78%.

Insiders Place Their Bets

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on 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 transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis 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 transaction, the director directly owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by corporate insiders.

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.