Evergreen Private Wealth LLC Has $2.95 Million Stock Holdings in Prologis, Inc. $PLD

Key Points

• Evergreen Private Wealth LLC increased its holdings in Prologis, Inc. by 12.4%, bringing their total investment to approximately $2.95 million as of the end of the second quarter.
• Insider trading was noted, with Prologis CAO Lori A. Palazzolo selling 25,000 shares for approximately $2.78 million, resulting in a significant decrease in her ownership position.
• Prologis has recently announced a quarterly dividend of $1.01 per share, reflecting an annualized dividend yield of 3.6% and a dividend payout ratio of 109.49%.

Evergreen Private Wealth LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,101 shares of the real estate investment trust's stock after acquiring an additional 3,105 shares during the quarter. Evergreen Private Wealth LLC's holdings in Prologis were worth $2,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. Brighton Jones LLC lifted its stake in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after buying an additional 15,078 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Prologis by 7.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 33,698 shares of the real estate investment trust's stock worth $3,562,000 after buying an additional 2,297 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Prologis by 9.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,754 shares of the real estate investment trust's stock worth $5,365,000 after buying an additional 4,544 shares during the last quarter. 111 Capital acquired a new stake in shares of Prologis in the fourth quarter worth $454,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Prologis by 10.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 33,652 shares of the real estate investment trust's stock worth $3,762,000 after buying an additional 3,287 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 owned 414 shares of the company's stock, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred 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. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Bank of America raised shares of 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 report on Tuesday, September 16th. Evercore ISI boosted their target price on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. UBS Group boosted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Prologis Stock Up 0.2%

Shares of NYSE PLD opened at $113.10 on Friday. The firm has a market capitalization of $104.99 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The firm's 50-day moving average is $110.25 and its 200-day moving average is $107.55.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is 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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