Janney Montgomery Scott LLC Sells 24,172 Shares of Prologis, Inc. $PLD

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Prologis, Inc. by 5.4%, now holding 422,704 shares worth approximately $44.4 million.
• The recent quarterly earnings report showed Prologis earning $1.46 EPS, surpassing analysts' expectations, with revenue remaining stable at $2.03 billion.
• Prologis announced a $1.01 quarterly dividend, resulting in a yield of 3.5%, while the company continues to see significant interest from institutional investors, owning 93.5% of the stock.

Janney Montgomery Scott LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 422,704 shares of the real estate investment trust's stock after selling 24,172 shares during the quarter. Janney Montgomery Scott LLC's holdings in Prologis were worth $44,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after purchasing an additional 15,078 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Prologis by 9.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,754 shares of the real estate investment trust's stock worth $5,365,000 after acquiring an additional 4,544 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Prologis by 16.1% during the 1st quarter. AdvisorNet Financial Inc now owns 878 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 122 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in Prologis in the first quarter worth $309,000. Finally, NBC Securities Inc. raised its stake in Prologis by 123,350.0% during the first quarter. NBC Securities Inc. now owns 2,469 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 2,467 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLD shares. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Finally, Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $122.58.

Prologis Stock Performance

PLD opened at $114.50 on Wednesday. The company has a market cap of $106.29 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26. 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 52-week low of $85.35 and a 52-week high of $127.65. The firm's 50-day moving average price is $110.64 and its 200-day moving average price is $107.52.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $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 insiders.

About Prologis

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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