Duff & Phelps Investment Management Co. Grows Position in Prologis, Inc. $PLD

Duff & Phelps Investment Management Co. raised its holdings in Prologis, Inc. (NYSE:PLD) by 0.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,969,334 shares of the real estate investment trust’s stock after acquiring an additional 4,185 shares during the period. Prologis makes up 3.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 3rd largest position. Duff & Phelps Investment Management Co.’s holdings in Prologis were worth $312,136,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Prologis in the 1st quarter worth approximately $1,456,768,000. Price T Rowe Associates Inc. MD boosted its position in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares in the last quarter. Strs Ohio bought a new stake in shares of Prologis in the 1st quarter worth $98,308,000. Vanguard Group Inc. boosted its holdings in 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 during the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Prologis by 18.4% during the 2nd quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock valued at $362,905,000 after purchasing an additional 535,703 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. Company insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $122.71 on Monday. The firm has a market cap of $113.98 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52-week low of $85.35 and a 52-week 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 company’s 50 day moving average is $119.14 and its 200 day moving average is $111.84.

Prologis (NYSE:PLD) last released its quarterly 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. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 3.3%. Prologis’s dividend payout ratio is currently 117.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research report on Monday, October 20th. Evercore ISI increased 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. UBS Group set a $133.00 price target on Prologis in a research report on Monday, November 10th. 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. Finally, Truist Financial reissued a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.