Gateway Investment Advisers LLC Purchases 31,093 Shares of Prologis, Inc. $PLD

Key Points

• Gateway Investment Advisers LLC increased its position in Prologis shares by 14.3%, now owning 248,092 shares valued at approximately $26 million.
• Prologis announced a quarterly dividend of $1.01 per share, with a payout ratio of 109.49% and a yield of 3.5%, to be paid on September 30th.
• Bank of America upgraded Prologis from a "neutral" to a "buy" rating, raising the price target from $118 to $130, with the consensus target now at $122.58.

Gateway Investment Advisers LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,092 shares of the real estate investment trust's stock after buying an additional 31,093 shares during the period. Gateway Investment Advisers LLC's holdings in Prologis were worth $26,079,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLD. Activest Wealth Management boosted its position in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 223 shares during the period. REAP Financial Group LLC boosted its holdings in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the first quarter worth about $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis during the first quarter worth about $41,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction on 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 sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Stock Performance

Shares of Prologis stock traded down $1.69 on Friday, hitting $113.47. 8,647,790 shares of the company's stock were exchanged, compared to its average volume of 3,170,153. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.93. The company has a 50-day simple moving average of $109.85 and a 200-day simple moving average of $107.63. The stock has a market capitalization of $105.33 billion, a PE ratio of 30.75, a PEG ratio of 2.87 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.34 EPS. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current 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 paid a $1.01 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.6%. Prologis's payout ratio is presently 109.49%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of analyst reports. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and increased their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Evercore ISI increased their target price 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. 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. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.58.

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.