Blair William & Co. IL Sells 5,910 Shares of Prologis, Inc. $PLD

Key Points

• Blair William & Co. IL reduced its stake in Prologis, Inc. by 21.9%, selling 5,910 shares and holding 21,031 shares valued at approximately $2.21 million.
• Prologis reports $1.46 earnings per share for the last quarter, surpassing analysts' expectations, with a revenue of $2.03 billion.
• The company recently declared a quarterly dividend of $1.01, resulting in an annualized dividend of $4.04 and a yield of 3.5%.

Blair William & Co. IL reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 21.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,031 shares of the real estate investment trust's stock after selling 5,910 shares during the quarter. Blair William & Co. IL's holdings in Prologis were worth $2,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. Nuveen LLC bought a new stake in Prologis during the 1st quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after buying an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after buying an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Prologis by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock valued at $870,871,000 after buying an additional 507,367 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 2.4%

NYSE:PLD opened at $115.44 on Wednesday. The firm's 50-day moving average price is $112.11 and its 200-day moving average price is $107.80. The company has a market capitalization of $107.20 billion, a PE ratio of 31.28, a P/E/G ratio of 2.85 and a beta of 1.28. 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 $127.65.

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

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's payout ratio is presently 109.49%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Barclays reduced their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. UBS Group boosted their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.58.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 completion of the transaction, the chief accounting officer owned 414 shares in the company, 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. In the last quarter, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is currently 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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