Prologis, Inc. $PLD Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC sold 31,372 shares of Prologis, Inc., reducing its stake by 4.2%, now holding 722,983 shares worth approximately $80.45 million.
• Vanguard Group and other institutional investors have increased their stakes in Prologis, with Vanguard owning over 121 million shares valued at approximately $13.56 billion.
• The company recently declared a quarterly dividend of $1.01 per share, representing an annualized yield of 3.6%, with a payout ratio of 109.49%.

Great Lakes Advisors LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 722,983 shares of the real estate investment trust's stock after selling 31,372 shares during the period. Great Lakes Advisors LLC owned 0.08% of Prologis worth $80,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Prologis during the first quarter valued at about $1,456,768,000. Valeo Financial Advisors LLC increased its position in shares of Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after acquiring an additional 2,862,183 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after acquiring an additional 1,723,129 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Prologis during the fourth quarter valued at about $163,970,000. Finally, SG Americas Securities LLC increased its position in shares of Prologis by 5,678.8% during the first quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock valued at $160,617,000 after acquiring an additional 1,411,910 shares during the last quarter. 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 business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the sale, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Trading Up 0.6%

Shares of PLD stock traded up $0.66 during trading hours on Friday, hitting $115.48. 3,363,726 shares of the company were exchanged, compared to its average volume of 4,381,011. The firm has a market cap of $107.20 billion, a PE ratio of 31.30, a PEG ratio of 2.78 and a beta of 1.26. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $109.03 and a 200 day moving average of $108.10.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data 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 business 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 company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts expect 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. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is currently 109.49%.

Analyst Ratings Changes

Several research firms have recently commented on PLD. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. 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 research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

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.