NorthRock Partners LLC Lowers Stock Position in Prologis, Inc. $PLD

Key Points

• NorthRock Partners LLC has reduced its stake in Prologis, Inc. by 24.3%, now holding 7,367 shares worth $775,000 after selling 2,361 shares in the second quarter.
• In a recent insider transaction, CAO Lori A. Palazzolo sold 25,000 shares for $2.78 million, representing a 98.37% decrease in her ownership position.
• Prologis recently paid a quarterly dividend of $1.01 per share, which translates to an annualized dividend yield of 3.5%.

NorthRock Partners LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 24.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,367 shares of the real estate investment trust's stock after selling 2,361 shares during the period. NorthRock Partners LLC's holdings in Prologis were worth $775,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Activest Wealth Management boosted its position in shares of Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the 1st quarter worth $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the 1st quarter worth $43,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company's 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 completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety 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.

Prologis Trading Up 2.4%

Shares of PLD stock opened at $115.44 on Wednesday. The firm has a 50-day moving average price of $112.11 and a 200 day moving average price of $107.80. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a market capitalization of $107.20 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.85 and a beta of 1.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $1.34 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.5%. Prologis's dividend payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLD shares. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a research report on Wednesday, October 8th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Citigroup decreased their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $122.58.

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.

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