Sienna Gestion Raises Position in Prologis, Inc. $PLD

Sienna Gestion lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 56,078 shares of the real estate investment trust’s stock after buying an additional 5,575 shares during the quarter. Sienna Gestion’s holdings in Prologis were worth $5,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PLD. Nuveen LLC purchased a new stake in shares of Prologis during the 1st quarter worth approximately $1,456,768,000. Price T Rowe Associates Inc. MD boosted its holdings in Prologis by 13.0% in the 1st 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 buying an additional 1,146,454 shares during the period. Strs Ohio bought a new position in Prologis in the 1st quarter worth approximately $98,308,000. Vanguard Group Inc. boosted its holdings in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after buying an additional 869,310 shares during the period. Finally, AMF Tjanstepension AB boosted its holdings in Prologis by 18.4% in the 2nd quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock worth $362,905,000 after buying an additional 535,703 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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 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 directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the sale, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,000 shares of company stock valued at $3,013,665 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Prologis Stock Down 0.1%

Shares of NYSE:PLD opened at $123.82 on Thursday. The firm has a fifty day moving average price of $117.48 and a two-hundred day moving average price of $110.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market cap of $115.01 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 3.13 and a beta of 1.28.

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

Prologis Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is currently 117.78%.

Wall Street Analyst Weigh In

PLD has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Citigroup cut their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Evercore ISI raised their price target on shares of 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 issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.56.

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.