NewEdge Advisors LLC Increases Stake in Prologis, Inc. $PLD

Key Points

• NewEdge Advisors LLC increased its stake in Prologis, Inc. by 5.3% in the first quarter, bringing its total holdings to 59,755 shares valued at $6.68 million.
• Prologis announced a dividend of $1.01 per share, which will be paid to shareholders on September 30th, representing an annualized yield of 3.6%.
• Analysts have mixed ratings for Prologis, with a target price ranging from $106.00 to $150.00, and an average rating of "Moderate Buy."

NewEdge Advisors LLC grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,755 shares of the real estate investment trust's stock after acquiring an additional 2,992 shares during the quarter. NewEdge Advisors LLC's holdings in Prologis were worth $6,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the period. Nuveen LLC purchased a new stake in shares of Prologis in the first quarter valued at $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock valued at $1,125,586,000 after acquiring an additional 505,318 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after acquiring an additional 93,201 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after acquiring an additional 1,146,454 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the 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 transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Prologis Stock Up 0.8%

Shares of Prologis stock opened at $113.57 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm's 50-day moving average is $108.56 and its two-hundred day moving average is $108.14. The stock has a market cap of $105.42 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 2.85 and a beta of 1.26.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.6%. The ex-dividend date is 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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