Clean Yield Group Acquires 49,889 Shares of Prologis, Inc. $PLD

Key Points

• Clean Yield Group increased its ownership of Prologis, Inc. by 2,090.9% in Q2, acquiring 49,889 shares and holding a total of 52,275 shares valued at $5,495,000.
• Prologis recently declared a quarterly dividend of $1.01, with a current yield of 3.5%, despite a high dividend payout ratio of 109.49%.
• The company reported $1.46 EPS for the last quarter, exceeding estimates, and expects to achieve 5.73 EPS for the current fiscal year, amid positive year-over-year revenue growth of 8.8%.

Clean Yield Group boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2,090.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,275 shares of the real estate investment trust's stock after acquiring an additional 49,889 shares during the quarter. Prologis accounts for approximately 1.6% of Clean Yield Group's investment portfolio, making the stock its 19th biggest holding. Clean Yield Group's holdings in Prologis were worth $5,495,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Prologis by 0.7% in 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 purchased a new stake in Prologis in the 1st quarter valued at about $1,456,768,000. Charles Schwab Investment Management Inc. increased its stake in Prologis by 0.9% in 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 increased its stake in Prologis by 13.0% in 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. increased its stake in Prologis by 7.0% in 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. Institutional investors own 93.50% of the company's stock.

Prologis Stock Up 0.9%

PLD opened at $114.27 on Monday. The company has a 50 day moving average of $110.41 and a 200 day moving average of $107.46. The company has a market cap of $106.07 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate 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 net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.01 dividend. 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 (DPR) is presently 109.49%.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLD has been the subject of several analyst reports. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Evercore ISI raised their price target on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.