Generate Investment Management Ltd Boosts Stake in Prologis, Inc. $PLD

Key Points

• Generate Investment Management Ltd increased its stake in Prologis, Inc. by 150.6% during the 2nd quarter, now owning 123,391 shares worth approximately $12.97 million.
• Prologis reported an EPS of $1.46 for the last quarter, surpassing analyst expectations and seeing an 8.8% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.01, indicating a 3.5% yield and a dividend payout ratio of 109.49%.

Generate Investment Management Ltd boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 150.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,391 shares of the real estate investment trust's stock after acquiring an additional 74,145 shares during the quarter. Generate Investment Management Ltd's holdings in Prologis were worth $12,971,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Prologis during the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after acquiring an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock valued at $870,871,000 after purchasing an additional 507,367 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Up 0.9%

Shares of Prologis stock opened at $114.27 on Monday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The stock has a market cap of $106.07 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $110.41 and a 200 day moving average price of $107.46.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data 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. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $1.34 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and increased their price objective for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI raised their target price on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price of $122.58.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction 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 directly owned 414 shares of the company's stock, valued at approximately $46,090.62. The trade was 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 owned by company insiders.

About Prologis

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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