D.A. Davidson & CO. Acquires 316,443 Shares of Prologis, Inc. $PLD

Key Points

• D.A. Davidson & CO. significantly increased its stake in Prologis, Inc., acquiring an additional 316,443 shares, bringing total ownership to 503,191 shares valued at approximately $52.9 million.
• Prologis reported $1.49 earnings per share for the most recent quarter, exceeding analyst expectations, with revenues reaching $2.05 billion.
• The company recently announced a quarterly dividend of $1.01 per share, with a yield of 3.2%, although its dividend payout ratio currently stands at 117.78%.

D.A. Davidson & CO. increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 169.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 503,191 shares of the real estate investment trust's stock after purchasing an additional 316,443 shares during the quarter. D.A. Davidson & CO. owned 0.05% of Prologis worth $52,896,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its position in shares of Prologis by 17.2% in the second quarter. Cullen Frost Bankers Inc. now owns 64,523 shares of the real estate investment trust's stock worth $6,783,000 after purchasing an additional 9,473 shares in the last quarter. Divergent Planning LLC acquired a new position in Prologis during the second quarter worth $1,819,000. Liberty One Investment Management LLC boosted its holdings in Prologis by 8.9% during the second quarter. Liberty One Investment Management LLC now owns 47,402 shares of the real estate investment trust's stock worth $4,983,000 after purchasing an additional 3,865 shares during the last quarter. VCI Wealth Management LLC boosted its holdings in Prologis by 13.1% during the second quarter. VCI Wealth Management LLC now owns 14,409 shares of the real estate investment trust's stock worth $1,515,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in Prologis by 23.2% during the second quarter. Pittenger & Anderson Inc. now owns 531 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 100 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other news, 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 completion of the sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of PLD opened at $126.11 on Wednesday. The firm has a 50-day moving average of $114.01 and a 200-day moving average of $108.40. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market cap of $117.11 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Prologis's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is currently 117.78%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. UBS Group set a $137.00 target price on shares of Prologis and gave the stock a "buy" rating in a report on Tuesday. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a research note on Wednesday, October 8th. Truist Financial reissued a "buy" rating and issued a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research report on Monday. Finally, Evercore ISI lifted their price objective on shares of Prologis from $113.00 to $116.00 and gave the company an "in-line" rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.44.

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.