Geneos Wealth Management Inc. Decreases Stake in Prologis, Inc. $PLD

Key Points

• Geneos Wealth Management Inc. has reduced its stake in Prologis, Inc. by 14.9%, selling 5,641 shares and now holding 32,135 shares valued at approximately $3.59 million.
• Prologis, Inc. reported a quarterly earnings of $1.46 EPS, exceeding expectations, with revenue of $2.03 billion reflecting an 8.8% increase compared to the previous year.
• The company recently announced a quarterly dividend of $1.01 per share, with a dividend yield of 3.6% and a payout ratio of 109.49%.

Geneos Wealth Management Inc. cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,135 shares of the real estate investment trust's stock after selling 5,641 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Prologis were worth $3,592,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PLD. Brighton Jones LLC boosted 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 valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Prologis by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,799 shares of the real estate investment trust's stock valued at $13,931,000 after buying an additional 5,276 shares in the last quarter. NorthRock Partners LLC boosted its stake in shares of Prologis by 56.3% in the fourth quarter. NorthRock Partners LLC now owns 6,929 shares of the real estate investment trust's stock valued at $732,000 after buying an additional 2,497 shares in the last quarter. Nomura Holdings Inc. boosted its stake in shares of Prologis by 714.0% in the fourth quarter. Nomura Holdings Inc. now owns 152,734 shares of the real estate investment trust's stock valued at $16,144,000 after buying an additional 133,971 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of Prologis by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 242,091 shares of the real estate investment trust's stock valued at $25,478,000 after buying an additional 4,254 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $121.83.

Prologis Stock Performance

Prologis stock opened at $111.02 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $108.89 and a two-hundred day moving average of $108.13. The company has a market capitalization of $103.05 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.81 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last released 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. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis's revenue 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 anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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 dividend on an annualized basis and a dividend yield of 3.6%. Prologis's payout ratio is currently 109.49%.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 sale, the director owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. 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 Prologis stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $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 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.