HB Wealth Management LLC Lowers Stake in Prologis, Inc. $PLD

Key Points

• HB Wealth Management LLC has reduced its stake in Prologis, Inc. by 9.5%, owning 21,799 shares worth approximately $2.29 million after selling 2,301 shares in the second quarter.
• Prologis has announced a quarterly dividend of $1.01 per share, which reflects an annualized dividend of $4.04 and a yield of 3.5%.
• Wall Street analysts have varying price targets for Prologis, with a consensus target price currently set at $122.58, alongside a "Moderate Buy" rating based on recent evaluations.

HB Wealth Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,799 shares of the real estate investment trust's stock after selling 2,301 shares during the period. HB Wealth Management LLC's holdings in Prologis were worth $2,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PLD. Activest Wealth Management lifted its holdings in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis during the first quarter worth $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis during the first quarter worth $34,000. Saudi Central Bank acquired a new position in shares of Prologis during the first quarter worth $41,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Prologis during the first quarter worth $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Citigroup reduced their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Finally, Barclays cut their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Prologis Price Performance

NYSE PLD opened at $116.47 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock's fifty day moving average price is $110.77 and its 200 day moving average price is $107.58. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a market cap of $108.11 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.89 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (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 firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $1.34 EPS. The firm's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction 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 trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at $46,090.62. This represents 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 currently owned by company insiders.

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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