Prologis, Inc. $PLD Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 861,147 shares of the real estate investment trust’s stock after selling 7,730 shares during the period. Bessemer Group Inc.’s holdings in Prologis were worth $90,522,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PLD. Nuveen LLC bought a new position in shares of Prologis in the first quarter worth $1,456,768,000. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock worth $433,229,000 after purchasing an additional 2,862,183 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares in the last quarter. Strs Ohio bought a new position in shares of Prologis in the first quarter worth $98,308,000. Finally, Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PLD shares. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Truist Financial reissued a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a report on Monday, October 20th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Finally, Evercore ISI upped their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $124.56.

Prologis Trading Up 0.3%

Shares of NYSE PLD opened at $126.84 on Tuesday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company has a market cap of $117.79 billion, a price-to-earnings ratio of 36.98, a P/E/G ratio of 3.20 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $115.63 and a 200-day simple moving average of $109.41.

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

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s 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 sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director directly owned 9,329 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by company 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.