Prologis, Inc. $PLD Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic reduced its stake in Prologis, Inc. by 10.8%, making it the 4th largest holding in their portfolio, valued at approximately $6.47 million.
• As of recent filings, 93.50% of Prologis stock is owned by hedge funds and institutional investors, highlighting significant institutional interest in the company.
• Prologis announced a $1.01 quarterly dividend with a payout ratio of 109.49%, indicating strong cash flow management despite the high payout percentage.

Pensionfund Sabic trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 10.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,858 shares of the real estate investment trust's stock after selling 7,000 shares during the period. Prologis accounts for about 1.9% of Pensionfund Sabic's holdings, making the stock its 4th biggest holding. Pensionfund Sabic's holdings in Prologis were worth $6,468,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLD. Alley Investment Management Company LLC increased its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after purchasing an additional 54,914 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Prologis during the first quarter valued at about $2,120,000. First Citizens Bank & Trust Co. increased its position in shares of Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after purchasing an additional 25,229 shares during the period. Finally, Ally Financial Inc. boosted its stake in shares of Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock valued at $3,130,000 after purchasing an additional 4,000 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's 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 completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded down $1.11 on Monday, hitting $114.24. The company's stock had a trading volume of 2,717,370 shares, compared to its average volume of 3,159,174. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $130.16. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $109.34 and a 200-day moving average price of $107.78. The company has a market capitalization of $106.04 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $1.34 EPS. The business's revenue for the quarter 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 research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's payout ratio is presently 109.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLD shares. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Barclays cut their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday. 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 price objective on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Finally, Citigroup decreased their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $122.17.

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.