Foresight Group Ltd Liability Partnership Buys 32,893 Shares of Prologis, Inc. $PLD

Key Points

• Foresight Group Ltd Liability Partnership significantly increased its stake in Prologis, Inc. by purchasing 32,893 shares, raising its total ownership to 38,849 shares valued at approximately $4.29 million.
• Several hedge funds have also increased their holdings in Prologis, leading to institutional investors owning 93.50% of the company's stock.
• Prologis announced a quarterly dividend of $1.01 per share, with an annualized dividend yield of 3.6% and a payout ratio of 109.49%.

Foresight Group Ltd Liability Partnership lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 552.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,849 shares of the real estate investment trust's stock after buying an additional 32,893 shares during the period. Foresight Group Ltd Liability Partnership's holdings in Prologis were worth $4,290,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Mizuho set a $118.00 price target on shares of Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, 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. Two equities 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. Based on data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was 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 represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Stock Down 0.9%

Shares of NYSE PLD opened at $111.02 on Thursday. The company's 50 day moving average price is $108.89 and its 200-day moving average price is $108.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.39. The company has a market capitalization of $103.05 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.81 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm 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 $1.01 dividend. The ex-dividend date of this dividend 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 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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