Concurrent Investment Advisors LLC Buys 9,244 Shares of Prologis, Inc. $PLD

Key Points

• Concurrent Investment Advisors LLC increased its stake in Prologis, Inc. by 31.3% in Q2, now holding 38,815 shares worth $4.08 million.
• Prologis reported a Q2 EPS of $1.46, exceeding estimates by $0.05, with revenue up 8.8% year-over-year.
• The company announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.6%.

Concurrent Investment Advisors LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 31.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 38,815 shares of the real estate investment trust's stock after acquiring an additional 9,244 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Prologis were worth $4,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Nuveen LLC bought a new stake in shares of Prologis during the 1st quarter worth $1,456,768,000. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after buying an additional 1,146,454 shares during the last quarter. Strs Ohio bought a new stake in shares of Prologis during the 1st quarter worth $98,308,000. Finally, Vanguard Group Inc. lifted its position in shares of Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLD. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Weiss Ratings restated a "hold (c)" rating on shares of Prologis in a research report on Wednesday, October 8th. Evercore ISI upped their target price on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.58.

Prologis Trading Up 1.3%

NYSE PLD opened at $112.67 on Tuesday. The business has a 50 day simple moving average of $111.94 and a 200 day simple moving average of $107.75. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The stock has a market capitalization of $104.64 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.81 and a beta of 1.28. 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 released its earnings results 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. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company's stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $2,952,095 in the last ninety days. 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.

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