DAVENPORT & Co LLC Acquires 2,369 Shares of Prologis, Inc. $PLD

Key Points

• DAVENPORT & Co LLC has increased its holdings in Prologis, Inc. by 6.8%, now owning 37,246 shares valued at $3,915,000 after acquiring an additional 2,369 shares in Q2.
• Prologis reported $1.46 earnings per share for the most recent quarter, surpassing analysts' expectations, and has set its FY 2025 guidance at $5.750-5.800 EPS.
• The company declared a quarterly dividend of $1.01 per share, reflecting an annualized rate of $4.04 and a yield of 3.5%, with a dividend payout ratio of 109.49%.

DAVENPORT & Co LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 37,246 shares of the real estate investment trust's stock after acquiring an additional 2,369 shares during the period. DAVENPORT & Co LLC's holdings in Prologis were worth $3,915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Michael S. Ryan Inc. raised its holdings in Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust's stock worth $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC raised its holdings in Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after purchasing an additional 96 shares during the period. Van Hulzen Asset Management LLC raised its holdings in Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after purchasing an additional 96 shares during the period. Sandler Capital Management raised its holdings in Prologis by 5.3% in the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 100 shares during the period. Finally, Sunflower Bank N.A. increased its stake in Prologis by 3.9% during the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust's stock worth $284,000 after buying an additional 100 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 0.1%

Shares of Prologis stock opened at $116.07 on Thursday. The firm has a market capitalization of $107.79 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.93 and a beta of 1.28. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average of $111.51 and a 200 day moving average of $107.74.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share 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 analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis's dividend payout ratio is 109.49%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction 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 transaction, the chief accounting officer owned 414 shares in the company, 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. Insiders have sold 26,500 shares of company stock worth $2,952,095 over the last 90 days. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PLD shares. Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. UBS Group boosted their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Citigroup cut their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $122.58.

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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