Apollon Wealth Management LLC Decreases Stake in Prologis, Inc. $PLD

Key Points

• Apollon Wealth Management LLC reduced its stake in Prologis, Inc. by 14.9%, owning 15,345 shares valued at approximately $1.61 million.
• Prologis reported an EPS of $1.46 for the second quarter, exceeding analyst expectations and marking an 8.8% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $1.01, equating to an annualized dividend of $4.04 and yielding 3.6%.

Apollon Wealth Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,345 shares of the real estate investment trust's stock after selling 2,693 shares during the quarter. Apollon Wealth Management LLC's holdings in Prologis were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Activest Wealth Management grew its holdings in shares of 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 acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis in the first quarter worth $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Prologis in the first quarter worth $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock opened at $112.67 on Tuesday. The stock's 50-day simple moving average is $111.94 and its 200-day simple moving average is $107.75. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The company has a market capitalization of $104.64 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.81 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 3.6%. The ex-dividend date was Tuesday, September 16th. Prologis's payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research analyst reports. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Evercore ISI lifted their price objective on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Barclays cut their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average price target of $122.58.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the business'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 completion of the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last quarter. 0.57% of the stock is owned by company insiders.

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.

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