Bingham Private Wealth LLC Raises Holdings in Prologis, Inc. $PLD

Key Points

• Bingham Private Wealth LLC increased its holdings in Prologis, Inc. by 122.1% during the 2nd quarter, bringing their total to 4,983 shares valued at $524,000.
• Several institutional investors have also significantly increased their stakes in Prologis, with Brighton Jones LLC raising its position by 629.0% and owning 17,475 shares worth $1,847,000.
• Prologis recently declared a quarterly dividend of $1.01 per share, resulting in an annualized dividend yield of 3.4%.

Bingham Private Wealth LLC boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 122.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,983 shares of the real estate investment trust's stock after purchasing an additional 2,739 shares during the quarter. Bingham Private Wealth LLC's holdings in Prologis were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Brighton Jones LLC boosted its position in Prologis by 629.0% during the fourth 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. Wedmont Private Capital boosted its holdings in shares of Prologis by 2.8% during the 1st quarter. Wedmont Private Capital now owns 5,530 shares of the real estate investment trust's stock worth $618,000 after purchasing an additional 153 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Prologis by 5.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,593 shares of the real estate investment trust's stock valued at $513,000 after purchasing an additional 243 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Prologis by 10.1% in the first quarter. Miracle Mile Advisors LLC now owns 13,719 shares of the real estate investment trust's stock valued at $1,534,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in Prologis by 2.6% during the first quarter. Capital Investment Advisors LLC now owns 28,465 shares of the real estate investment trust's stock worth $3,182,000 after buying an additional 731 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated 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 transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and upped their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Finally, Citigroup reduced their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $122.58.

Prologis Trading Up 0.1%

Shares of PLD stock opened at $117.17 on Tuesday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The firm has a market cap of $108.76 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28. The company has a 50-day moving average of $111.23 and a two-hundred day moving average of $107.62. 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 (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. 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 year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

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.

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