Ieq Capital LLC Purchases 6,138 Shares of Prologis, Inc. $PLD

Key Points

• Ieq Capital LLC increased its holdings in Prologis, Inc. by 17.7% during Q1, acquiring an additional 6,138 shares worth approximately $4.57 million.
• Prologis announced a quarterly dividend of $1.01 to be paid on September 30th, reflecting a 3.5% yield and a high payout ratio of 109.49%.
• Institutional investors own 93.50% of Prologis stock, indicating strong confidence among major shareholders despite recent adjustments in ratings from various analysts.

Ieq Capital LLC increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 17.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,841 shares of the real estate investment trust's stock after acquiring an additional 6,138 shares during the period. Ieq Capital LLC's holdings in Prologis were worth $4,566,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC lifted its stake in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the first quarter valued at approximately $34,000. Olde Wealth Management LLC bought a new position in shares of Prologis in the first quarter valued at approximately $43,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.83.

Prologis Stock Performance

PLD traded up $1.64 during mid-day trading on Thursday, reaching $112.59. 2,359,937 shares of the company traded hands, compared to its average volume of 2,761,756. The stock has a market capitalization of $104.51 billion, a P/E ratio of 30.51, a P/E/G ratio of 2.78 and a beta of 1.26. 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 company's fifty day moving average price is $108.40 and its 200-day moving average price is $108.37. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued 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 net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The company'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, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is 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 presently 109.49%.

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company'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 transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. This represents 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 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.