BROOKFIELD Corp ON Sells 140,332 Shares of Prologis, Inc. $PLD

Key Points

• BROOKFIELD Corp ON reduced its stake in Prologis, Inc. by 34.3% during the first quarter, selling 140,332 shares and retaining a total of 268,809 shares valued at approximately $30 million.
• Prologis recently announced a quarterly dividend of $1.01 per share, with a yield of 3.5% and an annualized dividend payout ratio of 109.49%.
• Analysts have mixed views on Prologis, with ratings including two Strong Buy, eleven Buy, and six Hold ratings; the stock has a consensus target price of $121.83.

BROOKFIELD Corp ON lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 34.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,809 shares of the real estate investment trust's stock after selling 140,332 shares during the quarter. BROOKFIELD Corp ON's holdings in Prologis were worth $30,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Activest Wealth Management increased its holdings in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 223 shares during the period. REAP Financial Group LLC increased its holdings in 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 buying an additional 84 shares during the period. Pandora Wealth Inc. bought a new stake in Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis in the 1st quarter valued at $34,000. Finally, Saudi Central Bank bought a new stake in Prologis in the 1st quarter valued at $41,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. UBS Group upped their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Citigroup lowered their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.83.

Prologis Trading Up 3.7%

Shares of PLD opened at $115.09 on Friday. The stock has a fifty day moving average price of $109.03 and a two-hundred day moving average price of $108.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.39. The company has a market cap of $106.83 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.78 and a beta of 1.26.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 3.5%. Prologis's dividend payout ratio is 109.49%.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade 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.

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