Kathmere Capital Management LLC Buys New Stake in Prologis, Inc. $PLD

Key Points

• Kathmere Capital Management LLC acquired a new stake in Prologis, Inc., purchasing 3,876 shares valued at approximately $407,000 during the second quarter.
• Prologis recently announced a quarterly dividend of $1.01 per share, reflecting an annualized yield of 3.5%, with the ex-dividend date set for September 16th.
• Brokerage analysts have increased their price targets for Prologis, with several firms giving it a "buy" rating and a consensus price target of $122.58.

Kathmere Capital Management LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,876 shares of the real estate investment trust's stock, valued at approximately $407,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alley Investment Management Company LLC lifted its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after purchasing an additional 54,914 shares during the period. Jump Financial LLC acquired a new position in Prologis during the first quarter valued at $2,120,000. First Citizens Bank & Trust Co. raised its position in shares of Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after acquiring an additional 29,170 shares during the period. Truist Financial Corp raised its position in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after acquiring an additional 25,229 shares during the period. Finally, Ally Financial Inc. raised its position in shares of Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after acquiring an additional 4,000 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 value of $111,000.00. Following the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. UBS Group upped their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Evercore ISI upped their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.58.

Prologis Stock Up 0.9%

PLD opened at $114.27 on Monday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $110.41 and a 200 day moving average price of $107.46. The company has a market cap of $106.07 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's dividend payout ratio is 109.49%.

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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