18,922 Shares in Prologis, Inc. $PLD Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has acquired a new position in Prologis, Inc. by purchasing 18,922 shares valued at approximately $2.1 million.
• Prologis recently announced a quarterly dividend of $1.01 per share, representing an annualized dividend of $4.04 and a yield of 3.5%.
• The company reported a quarterly earnings per share (EPS) of $1.46, exceeding analysts' expectations of $1.41, along with a revenue of $2.03 billion.

Magnetar Financial LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,922 shares of the real estate investment trust's stock, valued at approximately $2,115,000.

Several other large investors also recently added to or reduced their stakes in PLD. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the first quarter worth approximately $34,000. Olde Wealth Management LLC bought a new position in shares of Prologis in the first quarter worth approximately $43,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PLD shares. Robert W. Baird dropped their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Citigroup dropped their target price on shares of 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 target price on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Finally, Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $121.83.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction 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 owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Prologis Price Performance

Prologis stock traded down $0.10 during mid-day trading on Thursday, reaching $110.85. 725,644 shares of the company's stock traded hands, compared to its average volume of 4,394,289. The company has a market cap of $102.90 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.85 and a beta of 1.26. The stock has a 50 day moving average of $108.23 and a two-hundred day moving average of $108.43. 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 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (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 company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Prologis'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. Equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. Prologis's dividend payout ratio is currently 109.49%.

Prologis 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.