Cooper Financial Group Buys New Stake in Prologis, Inc. $PLD

Key Points

• Cooper Financial Group has acquired a new stake in Prologis, Inc. during the second quarter, purchasing 6,510 shares valued at approximately $684,000.
• Analyst ratings for Prologis show a predominant "Moderate Buy" with an average price target of $122.58, highlighting recent upgrades and downgrades from multiple investment firms.
• Prologis announced a quarterly dividend of $1.01 per share, resulting in a 3.5% yield, although its dividend payout ratio stands at a high 109.49%.

Cooper Financial Group bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 6,510 shares of the real estate investment trust's stock, valued at approximately $684,000.

A number of other hedge funds have also recently modified their holdings of PLD. Nuveen LLC purchased a new position in Prologis during the 1st quarter worth $1,456,768,000. Valeo Financial Advisors LLC grew its position in 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 purchasing an additional 2,862,183 shares during the last quarter. SG Americas Securities LLC grew its position in Prologis by 5,678.8% during the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock worth $160,617,000 after purchasing an additional 1,411,910 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 purchasing an additional 1,146,454 shares during the last quarter. Finally, Strs Ohio purchased a new position in Prologis during the 1st quarter worth $98,308,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. Barclays lowered their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. UBS Group raised 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. 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. Evercore ISI raised their target price 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. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average price target of $122.58.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm'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 transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm'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 transaction, the chief accounting officer owned 414 shares of the company's stock, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Prologis Stock Up 1.7%

Shares of NYSE PLD opened at $116.47 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The firm has a 50-day moving average price of $110.77 and a 200 day moving average price of $107.58. The stock has a market capitalization of $108.11 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating 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 analysts' expectations of $2.03 billion. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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