Generali Asset Management SPA SGR Decreases Stock Position in Prologis, Inc. $PLD

Key Points

• Generali Asset Management SPA SGR reduced its stake in Prologis, Inc. (NYSE:PLD) by 18.5%, now holding 75,181 shares valued at approximately $7.9 million.
• Insider trading saw significant activity, with CAO Lori A. Palazzolo selling 25,000 shares, reflecting a 98.37% decrease in her ownership.
• Analysts have upgraded Prologis, with Bank of America raising its rating from "neutral" to "buy" and increasing the price target from $118 to $130.

Generali Asset Management SPA SGR decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 75,181 shares of the real estate investment trust's stock after selling 17,096 shares during the period. Generali Asset Management SPA SGR's holdings in Prologis were worth $7,903,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PLD. Activest Wealth Management increased its stake in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the first quarter valued at $34,000. Saudi Central Bank acquired a new position in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new position in Prologis in the 1st quarter worth $43,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

In other Prologis news, 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 approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America raised Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. UBS Group upped their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Finally, Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Prologis Stock Performance

PLD opened at $115.44 on Wednesday. The firm has a fifty day moving average price of $112.11 and a 200 day moving average price of $107.80. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The stock has a market cap of $107.20 billion, a P/E ratio of 31.28, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis's dividend payout ratio (DPR) is 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.

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