Prologis, Inc. $PLD Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its stake in Prologis, Inc. by 316.9% to own 16,895 shares valued at $1,776,000 as of the end of the second quarter.
• The company reported $1.46 EPS for the last quarter, exceeding forecasts, and its annualized dividend of $4.04 represents a yield of 3.6%.
• Prologis received mixed updates from analysts, with UBS raising its price target to $120 and Bank of America upgrading its rating to buy, while other firms lowered their price targets.

Callan Family Office LLC increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 316.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,895 shares of the real estate investment trust's stock after acquiring an additional 12,842 shares during the quarter. Callan Family Office LLC's holdings in Prologis were worth $1,776,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PLD. Nuveen LLC acquired a new position in shares of Prologis in the 1st quarter worth $1,456,768,000. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after buying an additional 2,862,183 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after buying an additional 1,146,454 shares in the last quarter. Strs Ohio purchased a new position in shares of Prologis during the first quarter valued at $98,308,000. Finally, Vanguard Group Inc. grew its holdings in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after buying an additional 869,310 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director directly owned 9,329 shares of the company's stock, valued at $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $2,952,095 in the last ninety days. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group lifted their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup lowered their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Finally, Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.58.

Prologis Price Performance

PLD opened at $111.29 on Friday. The stock has a market cap of $103.35 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.81 and a beta of 1.28. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. 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 stock has a fifty day moving average price of $111.79 and a 200 day moving average price of $107.76.

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

Prologis Announces Dividend

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

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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