Alliancebernstein L.P. Purchases 118,492 Shares of Prologis, Inc. $PLD

Key Points

• Alliancebernstein L.P. has increased its stake in Prologis, Inc. by 3.4%, owning approximately 3.6 million shares worth $404 million as of the latest SEC filing.
• Prologis reported $1.46 EPS for the latest quarter, surpassing estimates, with a year-over-year revenue increase of 8.8%.
• The company announced a quarterly dividend of $1.01, leading to an annual yield of 3.6%, despite a payout ratio of over 109%.

Alliancebernstein L.P. boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,614,772 shares of the real estate investment trust's stock after purchasing an additional 118,492 shares during the period. Alliancebernstein L.P. owned about 0.39% of Prologis worth $404,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in Prologis by 70.4% in the first quarter. AQR Capital Management LLC now owns 610,404 shares of the real estate investment trust's stock valued at $67,981,000 after purchasing an additional 252,106 shares during the period. Dark Forest Capital Management LP increased its holdings in Prologis by 681.0% in the first quarter. Dark Forest Capital Management LP now owns 31,849 shares of the real estate investment trust's stock valued at $3,560,000 after purchasing an additional 27,771 shares during the period. EP Wealth Advisors LLC increased its holdings in Prologis by 107.3% in the first quarter. EP Wealth Advisors LLC now owns 30,492 shares of the real estate investment trust's stock valued at $3,409,000 after purchasing an additional 15,782 shares during the period. First Manhattan CO. LLC. increased its holdings in Prologis by 86.0% in the first quarter. First Manhattan CO. LLC. now owns 22,495 shares of the real estate investment trust's stock valued at $2,515,000 after purchasing an additional 10,400 shares during the period. Finally, Focus Partners Advisor Solutions LLC increased its holdings in Prologis by 56.7% in the first quarter. Focus Partners Advisor Solutions LLC now owns 6,139 shares of the real estate investment trust's stock valued at $686,000 after purchasing an additional 2,222 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's 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 completion of the transaction, 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 disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Citigroup decreased their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

Prologis Stock Down 0.7%

Shares of PLD traded down $0.80 during trading hours on Tuesday, hitting $112.76. The stock had a trading volume of 2,392,876 shares, compared to its average volume of 4,373,119. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $108.73 and a 200-day simple moving average of $108.09. The firm has a market capitalization of $104.67 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57.

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 for the quarter, beating 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 analysts' expectations of $2.03 billion. During the same quarter last year, the firm earned $1.34 EPS. The firm'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. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given 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 3.6%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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.