CCM Investment Advisers LLC Boosts Holdings in Prologis, Inc. $PLD

Key Points

• CCM Investment Advisers LLC increased its holdings in Prologis, Inc. by 7.4%, owning 78,810 shares valued at approximately $8.29 million after purchasing 5,423 additional shares.
• Prologis announced a quarterly dividend of $1.01 per share, which represents an annualized yield of 3.5%, with the ex-dividend date set for September 16th.
• Analyst ratings for Prologis show a consensus of Moderate Buy with an average price target of $122.58, while UBS Group recently raised its price objective to $120.00.

CCM Investment Advisers LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,810 shares of the real estate investment trust's stock after purchasing an additional 5,423 shares during the quarter. CCM Investment Advisers LLC's holdings in Prologis were worth $8,285,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis in the first quarter worth about $34,000. Finally, Saudi Central Bank acquired a new position in shares of Prologis in the first quarter worth about $41,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $111,000.00. Following the completion of the sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PLD has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Evercore ISI upped their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Finally, Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.58.

Prologis Stock Up 0.5%

PLD opened at $114.45 on Wednesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $110.06 and a 200 day moving average price of $107.55. The company has a market cap of $106.24 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share 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 the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company'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. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio is currently 109.49%.

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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