AlTi Global Inc. Acquires 3,071 Shares of Prologis, Inc. $PLD

Key Points

• AlTi Global Inc. increased its holdings in Prologis, Inc. by 1.5% in Q2, now owning 206,891 shares worth $21,759,000, making it the 27th biggest holding for the firm.
• Institutional investors own approximately 93.50% of Prologis's stock, with several firms significantly increasing their stakes recently.
• Prologis reported $1.49 earnings per share (EPS) for the latest quarter, exceeding expectations and showing an 8.6% revenue increase year-over-year.

AlTi Global Inc. lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,891 shares of the real estate investment trust's stock after acquiring an additional 3,071 shares during the period. Prologis accounts for approximately 0.5% of AlTi Global Inc.'s holdings, making the stock its 27th biggest holding. AlTi Global Inc.'s holdings in Prologis were worth $21,759,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the first quarter worth about $34,000. Saudi Central Bank bought a new stake in Prologis in the first quarter worth about $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis in the first quarter worth about $43,000. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 414 shares in the company, 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. Over the last three months, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by insiders.

Prologis Price Performance

NYSE PLD opened at $125.93 on Friday. The firm's fifty day simple moving average is $114.80 and its two-hundred day simple moving average is $108.74. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The firm has a market capitalization of $116.95 billion, a P/E ratio of 36.71, a P/E/G ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLD. Citigroup decreased their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. 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 MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $124.44.

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.

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