Inspire Investing LLC Grows Stake in Prologis, Inc. $PLD

Key Points

• Inspire Investing LLC increased its stake in Prologis, Inc. by 4.2% during Q2, owning a total of 94,443 shares valued at approximately $9.93 million.
• The company's recent quarterly earnings surpassed estimates, reporting an EPS of $1.46 against a consensus of $1.41, with revenue up 8.8% year-over-year.
• Following recent transactions, insiders have sold 26,500 shares of Prologis, collectively valued at nearly $2.95 million, reducing their overall ownership to 0.57%.

Inspire Investing LLC grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,443 shares of the real estate investment trust's stock after purchasing an additional 3,838 shares during the period. Prologis makes up 1.1% of Inspire Investing LLC's portfolio, making the stock its 13th biggest holding. Inspire Investing LLC's holdings in Prologis were worth $9,928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Aberdeen Group plc grew its position in shares of Prologis by 3.9% during the 2nd quarter. Aberdeen Group plc now owns 1,763,088 shares of the real estate investment trust's stock valued at $182,938,000 after purchasing an additional 65,612 shares in the last quarter. Agate Pass Investment Management LLC grew its position in shares of Prologis by 3.6% during the 2nd quarter. Agate Pass Investment Management LLC now owns 20,236 shares of the real estate investment trust's stock valued at $2,127,000 after purchasing an additional 705 shares in the last quarter. PDS Planning Inc grew its position in shares of Prologis by 26.4% during the 2nd quarter. PDS Planning Inc now owns 6,639 shares of the real estate investment trust's stock valued at $698,000 after purchasing an additional 1,388 shares in the last quarter. JB Capital LLC grew its position in shares of Prologis by 6.7% during the 2nd quarter. JB Capital LLC now owns 92,703 shares of the real estate investment trust's stock valued at $9,745,000 after purchasing an additional 5,782 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Prologis by 4.2% during the 2nd quarter. Blue Trust Inc. now owns 17,617 shares of the real estate investment trust's stock valued at $1,852,000 after purchasing an additional 703 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company's stock.

Prologis Stock Performance

Prologis stock opened at $111.29 on Friday. The company has a market capitalization of $103.35 billion, a PE ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 1.28. The firm has a fifty day simple moving average of $111.79 and a two-hundred day simple moving average of $107.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate 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 company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's dividend payout ratio is 109.49%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research analyst reports. 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. Evercore ISI lifted their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, Barclays dropped 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 research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average 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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