Bailard Inc. Sells 2,247 Shares of Prologis, Inc. $PLD

Bailard Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,936 shares of the real estate investment trust’s stock after selling 2,247 shares during the quarter. Bailard Inc.’s holdings in Prologis were worth $10,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PLD. Jump Financial LLC purchased a new stake in shares of Prologis during the 1st quarter valued at about $2,120,000. Ally Financial Inc. raised its holdings in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after purchasing an additional 4,000 shares during the last quarter. Inspire Investing LLC lifted its position in Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after purchasing an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Prologis in the first quarter worth approximately $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc grew its position in Prologis by 14.3% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock worth $7,579,000 after purchasing an additional 8,470 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD opened at $126.24 on Wednesday. The business has a 50-day simple moving average of $118.46 and a two-hundred day simple moving average of $111.40. 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, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The stock has a market cap of $117.26 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The firm 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 business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 117.78%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the 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 completion of the sale, the director owned 8,829 shares in the company, valued at approximately $1,087,203.06. This represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. Over the last three months, insiders sold 27,000 shares of company stock valued at $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Truist Financial reiterated a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Evercore ISI boosted their price target on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.