Prologis, Inc. $PLD Shares Acquired by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its holdings in Prologis, Inc. by 4.8%, now owning 216,727 shares valued at approximately $24.2 million.
• Prologis announced a quarterly dividend of $1.01 per share, representing an annualized yield of 3.6%, set to be paid on September 30th.
• The company's Q2 earnings per share were $1.46, exceeding analysts' expectations, with revenue up 8.8% compared to the previous year.

Advisors Capital Management LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,727 shares of the real estate investment trust's stock after purchasing an additional 9,986 shares during the period. Advisors Capital Management LLC's holdings in Prologis were worth $24,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLD. Activest Wealth Management grew its stake in 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 in the last quarter. REAP Financial Group LLC grew its stake in Prologis by 40.0% in 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 in the last quarter. Pandora Wealth Inc. acquired a new position in Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new stake in Prologis during the first quarter worth about $34,000. Finally, Saudi Central Bank acquired a new stake in Prologis during the first quarter worth about $41,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD opened at $111.02 on Thursday. The firm's 50 day moving average is $108.89 and its two-hundred day moving average is $108.13. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $103.05 billion, a P/E ratio of 30.09, a PEG ratio of 2.81 and a beta of 1.26. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Citigroup dropped their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Insiders Place Their Bets

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on 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 owned 9,829 shares of the company's stock, valued at $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. 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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