Prologis, Inc. $PLD Position Increased by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.8% in the second quarter, HoldingsChannel reports. The firm owned 247,670 shares of the real estate investment trust’s stock after purchasing an additional 9,100 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Prologis were worth $26,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PLD. Activest Wealth Management boosted its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in Prologis in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank bought a new position in Prologis in the 1st quarter worth about $41,000. Finally, Barrett & Company Inc. bought a new position in Prologis in the 2nd quarter worth about $44,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Evercore ISI lifted their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prologis in a research note on Wednesday. Scotiabank raised their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Finally, UBS Group set a $133.00 price objective on shares of Prologis in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Stock Up 2.2%

Shares of PLD stock opened at $125.89 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The business’s fifty day moving average is $120.18 and its 200-day moving average is $112.40. The stock has a market cap of $116.94 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share 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 analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the transaction, the director owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 27,000 shares of company stock worth $3,013,665 over the last quarter. Insiders own 0.57% of the company’s stock.

Prologis Company 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.