Chicago Capital LLC Has $565,000 Position in Prologis, Inc. $PLD

Key Points

• Chicago Capital LLC significantly increased its stake in Prologis, Inc. by 131.6% during the second quarter, bringing its holdings to $565,000 after acquiring additional shares.
• Prologis announced a quarterly dividend of $1.01 per share, translating to an annualized dividend of $4.04 and a dividend yield of 3.5%.
• Several analysts have issued favorable ratings for Prologis, with price targets ranging from $114.00 to $137.00, indicating a consensus rating of "Moderate Buy".

Chicago Capital LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 131.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,372 shares of the real estate investment trust's stock after purchasing an additional 3,052 shares during the quarter. Chicago Capital LLC's holdings in Prologis were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Activest Wealth Management raised its holdings in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. acquired a new stake in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the first quarter worth $34,000. Saudi Central Bank acquired a new stake in shares of Prologis during the first quarter worth $41,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Prologis during the first quarter worth $43,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Stock Up 0.2%

Prologis stock opened at $114.50 on Wednesday. The firm has a market capitalization of $106.29 billion, a PE ratio of 31.03, a P/E/G ratio of 2.89 and a beta of 1.26. The company's 50-day moving average is $110.64 and its 200-day moving average is $107.52. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week 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.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly 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 return on equity of 5.96% and a net margin of 40.29%.The business's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Bank of America raised Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Scotiabank set a $114.00 target price on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Citigroup dropped their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

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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