Greenleaf Trust Sells 3,748 Shares of Prologis, Inc. $PLD

Key Points

• Greenleaf Trust reduced its stake in Prologis, Inc. by 17.7% during the second quarter, selling 3,748 shares and leaving it with a total of 17,413 shares valued at approximately $1.83 million.
• Analysts have mixed views on Prologis, with a consensus rating of "Moderate Buy" and an average price target of $122.58 following various upgrades and downgrades from different analysts in recent months.
• Prologis announced a quarterly dividend of $1.01 per share, reflecting an annualized dividend yield of 3.5%, although its dividend payout ratio stands at 109.49%.

Greenleaf Trust cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 17.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,413 shares of the real estate investment trust's stock after selling 3,748 shares during the period. Greenleaf Trust's holdings in Prologis were worth $1,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. grew its stake in shares of Prologis by 1.7% in the 2nd quarter. Raleigh Capital Management Inc. now owns 15,233 shares of the real estate investment trust's stock worth $1,601,000 after buying an additional 248 shares during the last quarter. Janney Capital Management LLC grew its stake in shares of Prologis by 2.0% in the 2nd quarter. Janney Capital Management LLC now owns 19,300 shares of the real estate investment trust's stock worth $2,029,000 after buying an additional 384 shares during the last quarter. Oakworth Capital Inc. grew its stake in shares of Prologis by 25.7% in the 2nd quarter. Oakworth Capital Inc. now owns 733 shares of the real estate investment trust's stock worth $77,000 after buying an additional 150 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of Prologis by 12.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,415 shares of the real estate investment trust's stock worth $254,000 after buying an additional 262 shares during the last quarter. Finally, Kelly Financial Services LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $202,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Barclays cut their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Evercore ISI boosted their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus price target of $122.58.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the 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 sale, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction 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 owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Prologis Trading Up 0.2%

NYSE PLD opened at $114.50 on Wednesday. The company has a fifty day simple moving average of $110.64 and a two-hundred day simple moving average of $107.52. The stock has a market cap of $106.29 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.89 and a beta of 1.26. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts forecast 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 was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. 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 is presently 109.49%.

Prologis 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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