OFI Invest Asset Management Raises Stock Position in Prologis, Inc. $PLD

Key Points

• OFI Invest Asset Management increased its stake in Prologis, Inc. by 5.2% in the second quarter, now owning 346,753 shares valued at approximately $36.45 million.
• Insiders, including CAO Lori A. Palazzolo, sold 26,500 shares of Prologis stock in the last quarter, representing a significant decrease in their holdings.
• Prologis reported a 12-month low of $85.35 and a high of $127.65, with its most recent quarterly earnings per share at $1.46, beating estimates by $0.05.

OFI Invest Asset Management grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,753 shares of the real estate investment trust's stock after purchasing an additional 17,011 shares during the quarter. OFI Invest Asset Management's holdings in Prologis were worth $36,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PLD. Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% during the 1st 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 bought a new position in Prologis in the 1st quarter worth approximately $1,456,768,000. Charles Schwab Investment Management Inc. grew its holdings in Prologis by 0.9% during the 1st 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 buying an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 13.0% during the 1st 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 buying an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Prologis by 7.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock valued at $870,871,000 after buying an additional 507,367 shares in the last quarter. 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 Prologis stock in a transaction dated 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 transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated 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 transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $2,952,095 in the last quarter. 0.57% of the stock is owned by insiders.

Prologis Stock Performance

Shares of Prologis stock opened at $111.29 on Friday. The firm has a market cap of $103.35 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.81 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, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65. The stock's fifty day moving average price is $111.79 and its 200-day moving average price is $107.76.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 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 analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Mizuho set a $118.00 target price on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Evercore ISI raised their price target on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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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