Eventide Asset Management LLC Boosts Holdings in Prologis, Inc. $PLD

Key Points

• Eventide Asset Management LLC increased its stake in Prologis, Inc. by 131.1%, owning 53,449 shares valued at approximately $5.9 million as of the end of the first quarter.
• Multiple large investors have significantly increased their holdings in Prologis, with Brighton Jones LLC's position boosted by 629.0% and Balyasny Asset Management's stake up by 4,037.1% in the last quarter.
• Prologis announced a quarterly dividend of $1.01 per share, representing an annualized dividend yield of 3.6%, with the ex-dividend date set for September 16th.

Eventide Asset Management LLC grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 131.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,449 shares of the real estate investment trust's stock after buying an additional 30,321 shares during the period. Eventide Asset Management LLC's holdings in Prologis were worth $5,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Prologis by 4,037.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 212,562 shares of the real estate investment trust's stock valued at $22,468,000 after purchasing an additional 207,424 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Prologis during the 4th quarter valued at $99,000. Captrust Financial Advisors lifted its position in Prologis by 9.7% in the fourth quarter. Captrust Financial Advisors now owns 39,280 shares of the real estate investment trust's stock worth $4,152,000 after buying an additional 3,477 shares during the last quarter. Finally, BOKF NA lifted its position in Prologis by 19.8% in the fourth quarter. BOKF NA now owns 1,601 shares of the real estate investment trust's stock worth $166,000 after buying an additional 265 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on 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 directly owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $111,000.00. Following the sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Prologis Trading Down 1.4%

Shares of Prologis stock traded down $1.64 on Tuesday, hitting $111.93. 4,438,210 shares of the company traded hands, compared to its average volume of 4,385,401. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market cap of $103.90 billion, a PE ratio of 30.33, a PEG ratio of 2.85 and a beta of 1.26. The stock's 50 day moving average price is $108.73 and its 200-day moving average price is $108.09. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is presently 109.49%.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Citigroup dropped their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.83.

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.