Headland Capital LLC Buys 2,537 Shares of Prologis, Inc. $PLD

Key Points

• Headland Capital LLC increased its stake in Prologis, Inc. by 5.8% during Q2, acquiring an additional 2,537 shares, bringing its total to 46,328 shares valued at approximately $4.87 million.
• A recent transaction by Prologis insiders saw Director Cristina Gabriela Bita sell 500 shares, reducing her stake by 5.09%, while CAO Lori A. Palazzolo sold 25,000 shares, marking a 98.37% decrease in her holdings.
• Prologis announced a quarterly dividend of $1.01 per share, translating to an annualized yield of 3.5%, with a payout ratio of 109.49%.

Headland Capital LLC boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,328 shares of the real estate investment trust's stock after acquiring an additional 2,537 shares during the quarter. Prologis accounts for 2.1% of Headland Capital LLC's portfolio, making the stock its 11th largest position. Headland Capital LLC's holdings in Prologis were worth $4,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alley Investment Management Company LLC increased its stake in Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after buying an additional 54,914 shares during the last quarter. Jump Financial LLC acquired a new stake in Prologis in the 1st quarter valued at $2,120,000. First Citizens Bank & Trust Co. increased its stake in Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the last quarter. Truist Financial Corp increased its stake in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after buying an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. increased its stake in Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after buying an additional 4,000 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company's stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 in the last three months. Insiders own 0.57% of the company's stock.

Prologis Stock Up 0.8%

Shares of PLD opened at $117.09 on Monday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The firm has a market cap of $108.69 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28. The firm's 50-day simple moving average is $111.03 and its 200 day simple moving average is $107.56. 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 (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of Prologis in a research note on Saturday, September 27th. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

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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