MYDA Advisors LLC Reduces Position in Prologis, Inc. $PLD

Key Points

• MYDA Advisors LLC reduced its stake in Prologis, Inc. by 16.5%, selling 22,933 shares and now holding 116,000 shares worth approximately $12.97 million.
• Several large investors have shown significant interest in Prologis, with 93.50% of the company's stock owned by institutional investors and hedge funds.
• Prologis recently reported earnings per share of $1.46, surpassing analysts' estimates, with a revenue of $2.03 billion, reflecting an 8.8% increase year-over-year.

MYDA Advisors LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,000 shares of the real estate investment trust's stock after selling 22,933 shares during the quarter. Prologis comprises 2.3% of MYDA Advisors LLC's investment portfolio, making the stock its 6th largest position. MYDA Advisors LLC's holdings in Prologis were worth $12,968,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PLD. Nuveen LLC bought a new stake in shares of Prologis during the 1st quarter valued at about $1,456,768,000. Valeo Financial Advisors LLC lifted its position in Prologis by 282.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Prologis in the 4th quarter worth approximately $163,970,000. Finally, SG Americas Securities LLC increased its stake in Prologis by 5,678.8% in the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock worth $160,617,000 after purchasing an additional 1,411,910 shares during the period. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 2.2%

Shares of PLD traded down $2.53 during mid-day trading on Tuesday, hitting $111.25. 1,053,475 shares of the company's stock traded hands, compared to its average volume of 4,408,251. 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 1 year low of $85.35 and a 1 year high of $132.57. The firm has a market capitalization of $103.27 billion, a P/E ratio of 30.15, a PEG ratio of 2.85 and a beta of 1.26. The business's 50-day moving average price is $108.05 and its 200-day moving average price is $108.39.

Prologis (NYSE:PLD - Get Free Report) last posted its 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 firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business's revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLD has been the topic of a number of analyst reports. Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Truist Financial decreased their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Robert W. Baird decreased their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

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.