Phoenix Financial Ltd. Sells 3,609 Shares of Prologis, Inc. $PLD

Key Points

• Phoenix Financial Ltd. reduced its position in Prologis, Inc. by 29.4%, selling 3,609 shares during the second quarter, leaving it with 8,663 shares valued at approximately $910,000.
• Prologis reported $1.49 earnings per share for the latest quarter, surpassing estimates and marking an 8.6% year-over-year revenue increase to $2.05 billion.
• The company recently declared a quarterly dividend of $1.01 per share, which translates to an annualized yield of 3.2%, with a payout ratio at approximately 117.78%.

Phoenix Financial Ltd. reduced its position in Prologis, Inc. (NYSE:PLD - Free Report) by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,663 shares of the real estate investment trust's stock after selling 3,609 shares during the quarter. Phoenix Financial Ltd.'s holdings in Prologis were worth $910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Activest Wealth Management boosted its position in shares of Prologis by 637.1% in the first 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 during the period. Pandora Wealth Inc. bought a new position in shares of Prologis in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the first quarter worth approximately $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis in the first quarter worth $43,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Prologis stock opened at $125.91 on Thursday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a market cap of $116.93 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.20 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The firm's fifty day moving average is $114.40 and its 200 day moving average is $108.52.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis's dividend payout ratio is currently 117.78%.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Truist Financial reissued a "buy" rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a report on Monday. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised shares of Prologis from an "underperform" rating to a "market perform" rating and set a $119.00 target price on the stock in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten 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 a consensus rating of "Moderate Buy" and a consensus target price of $124.44.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% of the company's stock.

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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