Rathbones Group PLC Acquires 2,334 Shares of Prologis, Inc. $PLD

Rathbones Group PLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 56.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,446 shares of the real estate investment trust’s stock after purchasing an additional 2,334 shares during the quarter. Rathbones Group PLC’s holdings in Prologis were worth $678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jump Financial LLC bought a new stake in Prologis during the first quarter worth about $2,120,000. Ally Financial Inc. lifted its holdings in shares of Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after acquiring an additional 4,000 shares during the period. Inspire Investing LLC boosted its position in shares of Prologis by 9.0% during the 1st quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after acquiring an additional 7,518 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Prologis in the first quarter valued at approximately $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its position in Prologis by 14.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares in the company, valued at $1,087,203.06. The trade was a 5.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,000 shares of company stock valued at $3,013,665. Insiders own 0.57% of the company’s stock.

Prologis Stock Up 1.1%

Shares of NYSE PLD opened at $126.24 on Wednesday. The company has a 50 day simple moving average of $118.46 and a 200 day simple moving average of $111.40. 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 1 year low of $85.35 and a 1 year high of $127.50. The firm has a market cap of $117.26 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 36.71% and a return on equity of 5.55%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current 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 given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is 117.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Industrial Alliance Securities set a $119.00 price target on Prologis in a research note on Monday, October 20th. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Scotiabank raised their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday. Evercore ISI upped their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Finally, BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research report on Monday, October 20th. 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.39.

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.