Hudson Valley Investment Advisors Inc. ADV Sells 13,399 Shares of Prologis, Inc. $PLD

Key Points

• Hudson Valley Investment Advisors Inc. ADV has reduced its stake in Prologis, Inc. by 24% during the 2nd quarter, selling 13,399 shares and now holds 42,491 shares valued at approximately $4.47 million.
• A number of institutional investors, including Vanguard Group and Goldman Sachs, have increased their stakes in Prologis, which indicates strong institutional interest, with 93.50% of the stock owned by institutional investors.
• Bank of America upgraded Prologis's rating from "neutral" to "buy," raising its target price from $118 to $130, reflecting positive sentiment in the stock market towards the company.

Hudson Valley Investment Advisors Inc. ADV lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 24.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,491 shares of the real estate investment trust's stock after selling 13,399 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in Prologis were worth $4,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after acquiring an additional 869,310 shares during the period. Nuveen LLC bought a new stake in Prologis during the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. raised its stake in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after acquiring an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after acquiring an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Prologis by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock worth $870,871,000 after acquiring an additional 507,367 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PLD shares. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and raised their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. UBS Group raised their target price 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. Citigroup decreased their target price 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. Evercore ISI increased their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Finally, 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 report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by insiders.

Prologis Trading Up 0.8%

PLD stock opened at $117.09 on Friday. The firm has a fifty day moving average price of $111.03 and a 200 day moving average price of $107.63. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $108.69 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $1.34 earnings per share. Prologis's revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 dividend yield of 3.5%. Prologis's dividend payout ratio (DPR) is 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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