Knights of Columbus Asset Advisors LLC Buys 4,297 Shares of Prologis, Inc. $PLD

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Prologis, Inc. by 4.2%, owning a total of 107,701 shares valued at $11.32 million following the purchase of 4,297 shares in the 2nd quarter.
• Analysts have set a consensus target price of $122.58 for Prologis, with ratings varying from "Strong Buy" to "Hold" across multiple firms.
• Prologis recently announced a quarterly dividend of $1.01 per share, equating to an annualized yield of 3.5%, paid on September 30th.

Knights of Columbus Asset Advisors LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,701 shares of the real estate investment trust's stock after buying an additional 4,297 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Prologis were worth $11,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Alley Investment Management Company LLC grew its holdings 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 bought a new position in shares of Prologis during the first quarter worth $2,120,000. First Citizens Bank & Trust Co. boosted its position in shares of Prologis by 1,451.2% during 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 purchasing an additional 29,170 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after buying an additional 25,229 shares during the period. Finally, Ally Financial Inc. increased its position in shares of Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after buying an additional 4,000 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Evercore ISI raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the company'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 transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $2,952,095 over the last three months. Insiders own 0.57% of the company's stock.

Prologis Price Performance

Shares of PLD opened at $117.09 on Monday. 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. The stock has a market capitalization of $108.69 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.96 and a beta of 1.28. The company has a 50 day moving average of $111.03 and a 200-day moving average of $107.56.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.34 earnings per share. The firm's 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 research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued 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 is presently 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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