Prologis, Inc. $PLD Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC reduced its holdings in Prologis, Inc. by 13.9%, selling 195,289 shares and now owns approximately 1.2 million shares, which make up 9.5% of its total holdings.
• Prologis announced a quarterly dividend of $1.01 per share to be paid on September 30th, representing a 3.6% dividend yield.
• Prologis reported $1.46 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, and has set its FY 2025 guidance between 5.750-5.800 EPS.

Adelante Capital Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,205,055 shares of the real estate investment trust's stock after selling 195,289 shares during the period. Prologis comprises approximately 9.5% of Adelante Capital Management LLC's holdings, making the stock its 2nd biggest holding. Adelante Capital Management LLC owned about 0.13% of Prologis worth $134,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. REAP Financial Group LLC grew its stake in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares in the last quarter. LaSalle St. Investment Advisors LLC boosted its holdings in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC raised its position in shares of 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 valued at $201,000 after purchasing an additional 96 shares in the last quarter. Sandler Capital Management boosted its stake in shares of Prologis by 5.3% during the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock valued at $224,000 after buying an additional 100 shares during the last quarter. Finally, Focus Financial Network Inc. grew its position in shares of Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after buying an additional 104 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of Prologis stock traded down $0.95 during trading hours on Wednesday, reaching $111.02. The company's stock had a trading volume of 3,040,703 shares, compared to its average volume of 2,917,187. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.39. The company's 50 day simple moving average is $108.83 and its 200 day simple moving average is $108.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $103.05 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 2.81 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. Prologis's dividend payout ratio (DPR) is 109.49%.

Analysts Set New Price Targets

Several analysts recently issued reports on PLD shares. UBS Group upped their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $121.83.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 transaction, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.