Plancorp LLC Sells 52,766 Shares of Prologis, Inc. $PLD

Key Points

• Plancorp LLC has reduced its holdings in Prologis, Inc. by 50.7%, selling 52,766 shares and now owns 51,231 shares valued at approximately $5.4 million.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, surpassing the estimated $1.41, with revenues of $2.03 billion for the quarter.
• The company has announced a quarterly dividend of $1.01 per share, yielding 3.6%, with a payout ratio of 109.49%.

Plancorp LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 50.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,231 shares of the real estate investment trust's stock after selling 52,766 shares during the quarter. Plancorp LLC's holdings in Prologis were worth $5,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings 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 acquiring an additional 15,078 shares during the period. Vise Technologies Inc. bought a new position in Prologis in the 4th quarter worth $308,000. Park Square Financial Group LLC bought a new position in Prologis in the 4th quarter worth $103,000. Phocas Financial Corp. bought a new position in Prologis in the 4th quarter worth $342,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in Prologis in the 4th quarter worth $32,910,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

NYSE:PLD opened at $112.98 on Thursday. The firm's 50-day moving average is $110.12 and its 200-day moving average is $107.59. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $104.87 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.89 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business'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. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents 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 currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PLD shares. 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. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. UBS Group boosted their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Evercore ISI boosted their price objective on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Two investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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