Jacobs Levy Equity Management Inc. Sells 483,864 Shares of Prologis, Inc. $PLD

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Prologis, Inc. by 98.3%, selling 483,864 shares and now owning only 8,127 shares valued at $909,000.
• Prologis reported a quarterly EPS of $1.46, exceeding analysts' expectations, with revenue of $2.03 billion, reflecting an 8.8% year-over-year increase.
• The company declared a $1.01 quarterly dividend, resulting in an annualized dividend yield of 3.5%, despite a high dividend payout ratio of 109.49%.

Jacobs Levy Equity Management Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 98.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,127 shares of the real estate investment trust's stock after selling 483,864 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Prologis were worth $909,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Nuveen LLC bought a new stake in shares of Prologis during the 1st quarter worth about $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prologis by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock worth $1,125,586,000 after acquiring an additional 505,318 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of 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 in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of PLD stock opened at $115.09 on Friday. The stock has a 50 day moving average of $109.03 and a two-hundred day moving average of $108.10. 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, Inc. has a 12 month low of $85.35 and a 12 month high of $132.39. The company has a market capitalization of $106.83 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.78 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $1.34 EPS. The company's quarterly 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 analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $1.01 dividend. The ex-dividend date is 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 currently 109.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup lowered 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. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.83.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was 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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