JB Capital LLC Increases Stock Position in Prologis, Inc. $PLD

Key Points

• JB Capital LLC increased its holdings in Prologis, Inc. (NYSE: PLD) by 6.7%, owning 92,703 shares valued at approximately $9.75 million.
• Prologis reported an EPS of $1.46 for the last quarter, exceeding estimates of $1.41, with revenue rising 8.8% year-over-year.
• The company announced a quarterly dividend of $1.01 per share, reflecting a 3.5% yield and a payout ratio of 109.49%.

JB Capital LLC lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 6.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 92,703 shares of the real estate investment trust's stock after purchasing an additional 5,782 shares during the period. JB Capital LLC's holdings in Prologis were worth $9,745,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PLD. Activest Wealth Management lifted its position in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis in the 1st quarter valued at $34,000. Saudi Central Bank purchased a new stake in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of NYSE PLD opened at $114.40 on Friday. The firm has a 50-day simple moving average of $111.66 and a 200-day simple moving average of $107.77. The stock has a market capitalization of $106.24 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. 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.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS 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 business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the business earned $1.34 earnings per share. The company's quarterly 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. On average, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. 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 (DPR) is presently 109.49%.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 owned 414 shares of the company's stock, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction that occurred 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. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLD. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. UBS Group increased their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and increased their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two research 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $122.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.