Axiom Investors LLC DE Sells 25,679 Shares of Prologis, Inc. $PLD

Key Points

• Axiom Investors LLC DE has reduced its stake in Prologis, Inc. by 4.0% in the first quarter, owning approximately $69.55 million worth of shares after selling 25,679 shares.
• Prologis recently declared a quarterly dividend of $1.01 per share, with an annualized yield of 3.6% and a payout ratio currently at 109.49%.
• Wall Street analysts have varied ratings on Prologis, with a consensus target price of $121.83, while some analysts have downgraded their ratings and adjusted price targets.

Axiom Investors LLC DE lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 622,122 shares of the real estate investment trust's stock after selling 25,679 shares during the quarter. Axiom Investors LLC DE owned about 0.07% of Prologis worth $69,547,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLD. Brighton Jones LLC increased its holdings in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after acquiring an additional 15,078 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Prologis in the 4th quarter worth about $99,000. BOKF NA increased its holdings in Prologis by 19.8% in the 4th quarter. BOKF NA now owns 1,601 shares of the real estate investment trust's stock worth $166,000 after acquiring an additional 265 shares during the last quarter. First Manhattan CO. LLC. increased its holdings in Prologis by 120.9% in the 4th quarter. First Manhattan CO. LLC. now owns 12,095 shares of the real estate investment trust's stock worth $1,278,000 after acquiring an additional 6,619 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in Prologis by 23.6% in the 4th quarter. Focus Partners Wealth now owns 92,045 shares of the real estate investment trust's stock worth $9,807,000 after acquiring an additional 17,576 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Scotiabank set a $114.00 target price on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.83.

Prologis Price Performance

NYSE PLD traded up $0.66 during trading hours on Friday, reaching $115.48. 3,547,364 shares of the stock traded hands, compared to its average volume of 3,077,774. The company has a market cap of $107.20 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. The stock has a 50 day simple moving average of $109.18 and a two-hundred day simple moving average of $108.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.39.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's dividend payout ratio is currently 109.49%.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company'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 value of $111,000.00. Following the completion of the sale, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

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.