Flputnam Investment Management Co. Increases Holdings in Prologis, Inc. $PLD

Key Points

• Flputnam Investment Management Co. increased its stake in Prologis, Inc. by 18.6% by acquiring an additional 6,568 shares, bringing its total holdings to 41,825 shares valued at approximately $4.68 million.
• Prologis reported Q2 earnings of $1.46 per share, surpassing the expected $1.41, with a revenue of $2.03 billion, indicating an 8.8% year-over-year increase.
• The company declared a quarterly dividend of $1.01 per share, with a dividend yield of 3.5% and a payout ratio of 109.49%.

Flputnam Investment Management Co. raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,825 shares of the real estate investment trust's stock after purchasing an additional 6,568 shares during the quarter. Flputnam Investment Management Co.'s holdings in Prologis were worth $4,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management lifted its position in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 223 shares in the last quarter. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis in the first quarter worth $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter valued at about $41,000. Institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. UBS Group raised 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. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, Robert W. Baird dropped their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

PLD stock traded up $1.64 during midday trading on Thursday, hitting $112.59. The company's stock had a trading volume of 2,359,937 shares, compared to its average volume of 4,404,404. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $104.51 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a 50 day moving average of $108.23 and a two-hundred day moving average of $108.43.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 3.6%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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.