Federation des caisses Desjardins du Quebec Reduces Stock Holdings in Prologis, Inc. $PLD

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Prologis, Inc. by 58.4%, now holding 32,276 shares valued at approximately $3.6 million.
• Multiple institutional investors, including Dark Forest Capital Management and EP Wealth Advisors, have increased their holdings in Prologis, highlighting a significant interest from the investment community.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, exceeding expectations, and has set a fiscal year 2025 guidance of 5.750-5.800 EPS.

Federation des caisses Desjardins du Quebec reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 58.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,276 shares of the real estate investment trust's stock after selling 45,255 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Prologis were worth $3,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in Prologis during the first quarter worth about $1,456,768,000. Valeo Financial Advisors LLC boosted its position in 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 purchasing an additional 2,862,183 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Prologis by 83.8% during 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 purchasing an additional 1,723,129 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Prologis during the 4th quarter valued at approximately $163,970,000. Finally, SG Americas Securities LLC increased its holdings in shares of Prologis by 5,678.8% during the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock valued at $160,617,000 after purchasing an additional 1,411,910 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLD. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. UBS Group lifted their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. 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 report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

PLD stock traded up $4.11 during trading on Thursday, hitting $115.09. The stock had a trading volume of 5,038,678 shares, compared to its average volume of 2,939,177. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.39. The company's 50-day moving average price is $109.03 and its two-hundred day moving average price is $108.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $106.83 billion, a P/E ratio of 31.19, a PEG ratio of 2.78 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's payout ratio is presently 109.49%.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm'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 transaction, the chief accounting officer directly 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. 0.57% of the stock is currently owned by corporate 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.