Vanguard Group Inc. Grows Position in Prologis, Inc. $PLD

Vanguard Group Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 121,741,332 shares of the real estate investment trust’s stock after purchasing an additional 401,922 shares during the period. Vanguard Group Inc. owned about 0.13% of Prologis worth $12,797,449,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PLD. Geode Capital Management LLC boosted its holdings in shares of Prologis by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Prologis by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after purchasing an additional 253,338 shares during the last quarter. Nuveen LLC bought a new stake in Prologis in the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. raised its stake in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after buying an additional 93,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Prologis by 13.0% during the 1st 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 buying an additional 1,146,454 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLD. Scotiabank upped their price objective on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company boosted their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a report on Monday, October 20th. 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 company’s stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by corporate insiders.

Prologis Trading Up 0.7%

Shares of NYSE:PLD opened at $123.63 on Tuesday. The stock has a 50 day moving average of $119.34 and a 200 day moving average of $111.98. The company has a market cap of $114.83 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 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 $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $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. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current 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 given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

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.