New Century Financial Group LLC Takes $242,000 Position in Prologis, Inc. $PLD

Key Points

• New Century Financial Group LLC acquired a new position in Prologis, Inc. during the second quarter, purchasing 2,302 shares valued at approximately $242,000.
• Prologis reported a quarterly EPS of $1.46, exceeding analyst expectations of $1.41, with a revenue increase of 8.8% year-over-year.
• The company announced a quarterly dividend of $1.01 per share, yielding 3.5%, with a dividend payout ratio of 109.49%.

New Century Financial Group LLC bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,302 shares of the real estate investment trust's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Activest Wealth Management grew its position in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Prologis in the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis in the 1st quarter worth about $34,000. Saudi Central Bank acquired a new stake in shares of Prologis during the 1st quarter worth about $41,000. Finally, Olde Wealth Management LLC bought a new position in Prologis during the 1st quarter valued at about $43,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of Prologis stock opened at $116.22 on Friday. The firm has a fifty day moving average of $110.90 and a two-hundred day moving average of $107.59. 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 stock has a market capitalization of $107.88 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 2.94 and a beta of 1.28. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The stock was 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 in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLD. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. UBS Group increased their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $122.58.

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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