Golden State Equity Partners Takes $324,000 Position in Prologis, Inc. $PLD

Key Points

• Golden State Equity Partners acquired a new stake in Prologis, Inc., purchasing 3,079 shares valued at approximately $324,000 during the second quarter.
• Prologis announced a quarterly dividend of $1.01 per share, set to be paid on September 30th, representing an annualized yield of 3.5%.
• Multiple analysts have raised their price targets for Prologis, with a consensus target price now at $122.58, indicating a generally favorable outlook for the stock.

Golden State Equity Partners acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,079 shares of the real estate investment trust's stock, valued at approximately $324,000.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management raised its stake in shares of Prologis by 637.1% in the first 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 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 buying an additional 84 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in Prologis in the first quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new stake in Prologis in the first quarter valued at $34,000. Finally, Saudi Central Bank acquired a new stake in Prologis in the first quarter valued at $41,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 transaction 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 $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the 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 sale, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PLD. Evercore ISI raised their price target on Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and raised their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Prologis Stock Up 0.5%

PLD opened at $114.45 on Wednesday. The business's 50-day simple moving average is $110.06 and its 200-day simple moving average is $107.55. 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 one year low of $85.35 and a one year high of $127.65. The stock has a market capitalization of $106.24 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business'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. Analysts anticipate 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. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's dividend payout ratio is currently 109.49%.

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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