Clark Capital Management Group Inc. Grows Position in Prologis, Inc. $PLD

Key Points

• Clark Capital Management Group Inc. increased its stake in Prologis, Inc. by 2.9% through the purchase of 21,013 shares, bringing its total ownership to 741,475 shares valued at approximately $82.89 million.
• Prologis announced a quarterly dividend of $1.01 per share, reflecting a 3.6% yield, with the dividend payout ratio at 109.49%.
• Prologis reported earnings of $1.46 per share for the last quarter, exceeding analyst expectations and demonstrating an 8.8% revenue increase year-over-year.

Clark Capital Management Group Inc. lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 741,475 shares of the real estate investment trust's stock after purchasing an additional 21,013 shares during the period. Clark Capital Management Group Inc. owned about 0.08% of Prologis worth $82,890,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management lifted its stake in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares during the period. REAP Financial Group LLC lifted its stake in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the 1st quarter worth approximately $34,000. Finally, Saudi Central Bank bought a new position in shares of Prologis in the 1st quarter worth approximately $41,000. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of PLD stock traded down $0.83 on Tuesday, reaching $112.73. The company's stock had a trading volume of 2,675,852 shares, compared to its average volume of 4,374,594. The stock's fifty day simple moving average is $108.73 and its 200-day simple moving average is $108.09. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $104.64 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during 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%.Prologis's revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis's payout ratio is presently 109.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Citigroup decreased their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average target price of $121.83.

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the business'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 sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 414 shares in the company, 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 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.