Perpetual Ltd Raises Stake in Prologis, Inc. $PLD

Key Points

• Perpetual Ltd increased its stake in Prologis, Inc. by 2.7%, acquiring an additional 9,623 shares, bringing its total holdings to 363,458 shares valued at approximately $38.2 million.
• Multiple institutional investors significantly increased their positions in Prologis during the first quarter, with Alley Investment Management growing its stake by 102.8%.
• Prologis recently declared a quarterly dividend of $1.01 per share, with an annualized yield of 3.6%, despite a dividend payout ratio of 109.49%.

Perpetual Ltd raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 363,458 shares of the real estate investment trust's stock after buying an additional 9,623 shares during the quarter. Perpetual Ltd's holdings in Prologis were worth $38,207,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after buying an additional 15,078 shares during the last quarter. Woodline Partners LP bought a new position in shares of Prologis during the 4th quarter valued at approximately $3,800,000. Voloridge Investment Management LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $4,561,000. Focus Partners Advisor Solutions LLC grew its stake in shares of Prologis by 7.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,917 shares of the real estate investment trust's stock valued at $414,000 after acquiring an additional 256 shares during the period. Finally, Cornerstone Advisory LLC lifted its holdings in Prologis by 4.1% in the 4th quarter. Cornerstone Advisory LLC now owns 3,567 shares of the real estate investment trust's stock worth $377,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 0.6%

NYSE PLD traded down $0.74 during trading on Tuesday, hitting $113.20. The company's stock had a trading volume of 728,354 shares, compared to its average volume of 4,348,722. 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 fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a market cap of $105.07 billion, a PE ratio of 30.72, a P/E/G ratio of 2.87 and a beta of 1.26. The business's 50 day simple moving average is $109.95 and its 200-day simple moving average is $107.50.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company's 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. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Insider Buying and Selling

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director owned 9,829 shares of the company's stock, valued at $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 insiders.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Scotiabank set a $114.00 target price on Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $122.58.

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.