Easterly Investment Partners LLC Increases Stock Holdings in Prologis, Inc. $PLD

Key Points

• Easterly Investment Partners LLC increased its holdings in Prologis, Inc. by 123.3% during the second quarter, owning 156,558 shares worth approximately $16.5 million.
• Prologis reported $1.49 earnings per share for the recent quarter, surpassing the consensus estimate of $1.44, with revenues up 8.6% year-over-year.
• The company also announced a quarterly dividend of $1.01 per share, representing a yield of 3.3%, although its payout ratio stands at 109.49%.

Easterly Investment Partners LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 123.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,558 shares of the real estate investment trust's stock after acquiring an additional 86,454 shares during the quarter. Prologis accounts for approximately 1.2% of Easterly Investment Partners LLC's investment portfolio, making the stock its 20th biggest position. Easterly Investment Partners LLC's holdings in Prologis were worth $16,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its holdings in Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust's stock valued at $1,438,000 after acquiring an additional 93 shares during the period. Master S Wealth Management Inc. boosted its holdings in Prologis by 51.9% during the 2nd quarter. Master S Wealth Management Inc. now owns 6,682 shares of the real estate investment trust's stock valued at $702,000 after acquiring an additional 2,284 shares during the period. Nordea Investment Management AB boosted its holdings in Prologis by 6.6% during the 2nd quarter. Nordea Investment Management AB now owns 83,647 shares of the real estate investment trust's stock valued at $8,731,000 after acquiring an additional 5,187 shares during the period. Turtle Creek Wealth Advisors LLC boosted its holdings in Prologis by 35.3% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 28,806 shares of the real estate investment trust's stock valued at $3,028,000 after acquiring an additional 7,510 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in Prologis by 35.3% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 2,416 shares of the real estate investment trust's stock valued at $254,000 after acquiring an additional 630 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 1.3%

Prologis stock opened at $121.11 on Friday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $126.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. The company has a market capitalization of $112.47 billion, a P/E ratio of 35.31, a PEG ratio of 3.09 and a beta of 1.28. The stock has a 50-day simple moving average of $112.75 and a 200-day simple moving average of $107.97.

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 for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $1.43 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.3%. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Prologis in a research note on Wednesday, October 8th. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Finally, Bank of America raised Prologis from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.74.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 transaction of $2,783,250.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 500 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director directly owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by company 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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