Ballentine Partners LLC Has $935,000 Position in Prologis, Inc. $PLD

Key Points

• Ballentine Partners LLC reduced its stake in Prologis, Inc. by 44.3%, now holding 8,895 shares worth $935,000.
• Prologis reported $1.46 earnings per share (EPS) for the last quarter, surpassing estimates, and forecasted FY 2025 EPS guidance between 5.750-5.800.
• The company announced a quarterly dividend of $1.01, with a 3.6% yield, and a payout ratio of 109.49%.

Ballentine Partners LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 44.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,895 shares of the real estate investment trust's stock after selling 7,080 shares during the period. Ballentine Partners LLC's holdings in Prologis were worth $935,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management lifted its position in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis during the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis during the 1st quarter valued at $34,000. Saudi Central Bank acquired a new position in shares of Prologis during the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Prologis during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

NYSE PLD opened at $113.10 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $104.99 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.85 and a beta of 1.26. The company has a fifty day moving average price of $110.25 and a 200-day moving average price of $107.55.

Prologis (NYSE:PLD - Get Free Report) last posted 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The business's revenue 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, equities research 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. Stockholders of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. Prologis's dividend payout ratio is presently 109.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. 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, Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing 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 transaction 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 approximately $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

About Prologis

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.