Baird Financial Group Inc. Decreases Stake in Prologis, Inc. $PLD

Key Points

• Baird Financial Group Inc. has reduced its holdings in Prologis, Inc. by 3.5%, selling 4,079 shares to end the first quarter with 112,887 shares valued at $12.62 million.
• Insider activity noted a significant sale by CAO Lori A. Palazzolo, who sold 25,000 shares for approximately $2.78 million, decreasing her ownership by 98.37%.
• Prologis announced a quarterly dividend of $1.01 per share, set to be paid on September 30, with a current yield of 3.6% and a payout ratio of 109.49%.

Baird Financial Group Inc. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,887 shares of the real estate investment trust's stock after selling 4,079 shares during the quarter. Baird Financial Group Inc.'s holdings in Prologis were worth $12,620,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. REAP Financial Group LLC boosted its holdings in shares of Prologis by 40.0% in the 4th 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 during the last quarter. LaSalle St. Investment Advisors LLC boosted its holdings in shares of Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after acquiring an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC boosted its holdings in Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after buying an additional 96 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in 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. Finally, Exencial Wealth Advisors LLC boosted its holdings in Prologis by 5.1% during the first quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after buying an additional 107 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 0.8%

Prologis stock traded up $0.96 during midday trading on Friday, hitting $113.57. 2,595,695 shares of the stock were exchanged, compared to its average volume of 2,775,991. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock has a market capitalization of $105.42 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 2.85 and a beta of 1.26. The stock's 50-day simple moving average is $108.56 and its 200 day simple moving average is $108.23. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $2.03 billion. During the same period last year, the business earned $1.34 earnings per share. The business's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred 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 owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, UBS Group increased their price target on shares of Prologis from $106.00 to $120.00 and gave the stock 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 assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.83.

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.