Modern Wealth Management LLC Sells 2,972 Shares of Prologis, Inc. $PLD

Key Points

• Modern Wealth Management LLC reduced its stake in Prologis, Inc. by 7.9%, selling 2,972 shares, and now holds 34,781 shares valued at approximately $3.89 million.
• Prologis announced a quarterly dividend of $1.01 per share, equating to an annualized dividend of $4.04 and a yield of 3.5%.
• Prologis reported $1.46 earnings per share for the last quarter, exceeding analyst expectations of $1.41, and announced FY 2025 guidance at 5.750-5.800 EPS.

Modern Wealth Management LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,781 shares of the real estate investment trust's stock after selling 2,972 shares during the period. Modern Wealth Management LLC's holdings in Prologis were worth $3,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Strs Ohio bought a new stake in Prologis during the first quarter valued at $98,308,000. Foresight Group Ltd Liability Partnership boosted its holdings in Prologis by 552.3% in the first quarter. Foresight Group Ltd Liability Partnership now owns 38,849 shares of the real estate investment trust's stock worth $4,290,000 after acquiring an additional 32,893 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in Prologis by 4.8% in the first quarter. Advisors Capital Management LLC now owns 216,727 shares of the real estate investment trust's stock worth $24,228,000 after acquiring an additional 9,986 shares in the last quarter. Acorns Advisers LLC grew its stake in Prologis by 24.1% in the first quarter. Acorns Advisers LLC now owns 2,464 shares of the real estate investment trust's stock valued at $275,000 after acquiring an additional 479 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Prologis by 49.5% during the first quarter. Intech Investment Management LLC now owns 17,952 shares of the real estate investment trust's stock worth $2,007,000 after purchasing an additional 5,947 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLD shares. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. UBS Group raised their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and a consensus target price of $121.83.

Prologis Trading Up 0.6%

Shares of PLD opened at $115.48 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $107.20 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.39. The business has a 50-day moving average of $109.18 and a 200 day moving average of $108.05.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business'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 transaction of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. 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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