Praxis Investment Management Inc. Lowers Holdings in Prologis, Inc. $PLD

Key Points

• Praxis Investment Management Inc. reduced its holdings in Prologis, Inc. by 21.3%, owning 17,620 shares worth $1,852,000 after selling 4,770 shares in the second quarter.
• Prologis recently announced a quarterly dividend of $1.01, with a 3.3% dividend yield, and a payout ratio of 109.49%.
• Analysts have shown positive sentiment towards Prologis, with Bank of America upgrading its rating from "neutral" to "buy" and raising the price target from $118.00 to $130.00.

Praxis Investment Management Inc. decreased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,620 shares of the real estate investment trust's stock after selling 4,770 shares during the quarter. Praxis Investment Management Inc.'s holdings in Prologis were worth $1,852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Nuveen LLC purchased a new stake in Prologis in the 1st quarter valued at about $1,456,768,000. Valeo Financial Advisors LLC lifted its position in Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after acquiring an additional 2,862,183 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Strs Ohio purchased a new stake in Prologis during the 1st quarter worth approximately $98,308,000. Finally, Vanguard Group Inc. increased its holdings in 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 worth $13,564,533,000 after purchasing an additional 869,310 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 of the company's stock, valued at $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 is available at this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director directly owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $121.11 on Friday. The business has a 50 day moving average price of $112.75 and a 200 day moving average price of $107.97. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $126.92. The company has a market cap of $112.47 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 3.09 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current 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. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is 109.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and boosted their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a research report on Wednesday, October 8th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.74.

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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