Spire Wealth Management Sells 760 Shares of Prologis, Inc. $PLD

Spire Wealth Management cut its stake in Prologis, Inc. (NYSE:PLD) by 19.9% in the second quarter, HoldingsChannel.com reports. The fund owned 3,054 shares of the real estate investment trust’s stock after selling 760 shares during the period. Spire Wealth Management’s holdings in Prologis were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Stratos Wealth Partners LTD. raised its position in shares of Prologis by 0.7% during the second quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 93 shares during the period. Michael S. Ryan Inc. raised its position in shares of Prologis by 2.9% during the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC raised its position in shares of Prologis by 3.7% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 96 shares during the period. Van Hulzen Asset Management LLC raised its position in shares of Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 96 shares during the period. Finally, Sandler Capital Management raised its position in shares of Prologis by 5.3% during the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 0.0%

NYSE:PLD opened at $124.13 on Tuesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $117.01 and a two-hundred day moving average price of $110.40. The company has a market cap of $115.30 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Analysts Set New Price Targets

A number of research firms have recently commented on PLD. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. UBS Group set a $137.00 price target on Prologis and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Truist Financial reaffirmed a “buy” rating and set a $131.00 price target (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Finally, Evercore ISI increased their price objective on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.56.

Insider Buying and Selling

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

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.