Everstar Asset Management LLC Buys Shares of 33,514 Prologis, Inc. $PLD

Key Points

• Everstar Asset Management LLC has invested approximately $3.75 million in Prologis, acquiring 33,514 shares, representing around 0.7% of its portfolio.
• Prologis announced a quarterly dividend of $1.01 per share, which translates to an annualized yield of 3.6% and a dividend payout ratio of 109.49%.
• Analysts have mixed views on Prologis, with a consensus rating of Moderate Buy and an average price target of $121.83 per share.

Everstar Asset Management LLC acquired a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 33,514 shares of the real estate investment trust's stock, valued at approximately $3,747,000. Prologis comprises approximately 0.7% of Everstar Asset Management LLC's holdings, making the stock its 23rd biggest holding.

A number of other large investors have also recently made changes to their positions in PLD. Nuveen LLC bought a new stake in shares of Prologis in the 1st quarter worth approximately $1,456,768,000. Valeo Financial Advisors LLC grew its position in shares of Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Prologis in the 4th quarter worth approximately $163,970,000. Finally, SG Americas Securities LLC grew its position in shares of Prologis by 5,678.8% in the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock worth $160,617,000 after buying an additional 1,411,910 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business'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 completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was 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 available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business'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 completion of the transaction, the director owned 9,829 shares of the company's stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Stock Up 0.6%

Prologis stock traded up $0.66 during mid-day trading on Friday, hitting $115.48. The company had a trading volume of 2,391,685 shares, compared to its average volume of 4,372,692. 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 stock's 50 day moving average price is $109.03 and its two-hundred day moving average price is $108.10. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.39. The company has a market capitalization of $107.20 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results 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. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis's payout ratio is currently 109.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. UBS Group lifted their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Finally, Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two equities 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. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price 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.