Russell Investments Group Ltd. Increases Position in Prologis, Inc. $PLD

Russell Investments Group Ltd. raised its position in shares of Prologis, Inc. (NYSE:PLD) by 14.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,570,968 shares of the real estate investment trust’s stock after buying an additional 449,359 shares during the period. Prologis makes up about 0.5% of Russell Investments Group Ltd.’s portfolio, making the stock its 22nd biggest holding. Russell Investments Group Ltd.’s holdings in Prologis were worth $375,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Inceptionr LLC acquired a new position in Prologis in the 2nd quarter valued at about $687,000. J.W. Cole Advisors Inc. grew its holdings in shares of Prologis by 10.6% in the second quarter. J.W. Cole Advisors Inc. now owns 12,870 shares of the real estate investment trust’s stock valued at $1,353,000 after purchasing an additional 1,235 shares in the last quarter. FourThought Financial Partners LLC grew its holdings in shares of Prologis by 57.0% in the second quarter. FourThought Financial Partners LLC now owns 53,776 shares of the real estate investment trust’s stock valued at $5,653,000 after purchasing an additional 19,521 shares in the last quarter. Verity & Verity LLC increased its stake in Prologis by 1.2% during the 2nd quarter. Verity & Verity LLC now owns 115,834 shares of the real estate investment trust’s stock worth $12,176,000 after buying an additional 1,405 shares during the period. Finally, Southeast Asset Advisors LLC purchased a new position in Prologis in the 2nd quarter valued at approximately $255,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $127.34 on Wednesday. The business has a 50 day moving average price of $120.70 and a 200 day moving average price of $112.80. The stock has a market cap of $118.29 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $128.44. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced 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. 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 analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction 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 transaction, the director owned 8,829 shares in the company, valued at $1,087,203.06. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 2,000 shares of company stock valued at $230,415 over the last three months. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a research report on Wednesday, November 19th. Evercore ISI upped their price target on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research report on Monday, October 20th. 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 note on Monday, October 20th. Two 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’s stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $125.39.

About Prologis

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.