Prologis, Inc. $PLD Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its holdings in Prologis, Inc. (NYSE:PLD) by 0.6% in the second quarter, HoldingsChannel.com reports. The firm owned 180,626 shares of the real estate investment trust’s stock after buying an additional 995 shares during the quarter. Amalgamated Bank’s holdings in Prologis were worth $18,987,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Stratos Wealth Partners LTD. raised its holdings in Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 93 shares during the period. Michael S. Ryan Inc. raised its holdings in Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC raised its holdings in Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 96 shares during the period. Van Hulzen Asset Management LLC raised its holdings in Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 96 shares during the period. Finally, Sandler Capital Management increased its stake in Prologis by 5.3% during the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 1.9%

NYSE:PLD opened at $123.37 on Thursday. The stock has a market capitalization of $114.57 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The stock’s fifty day moving average is $116.20 and its two-hundred day moving average is $109.81.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 business had revenue of $2.05 billion for 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 revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business 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. 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%.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the transaction, the director directly owned 9,329 shares in the company, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLD shares. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Barclays cut their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Two investment 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $124.56.

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.