Prologis, Inc. $PLD Shares Acquired by Meitav Investment House Ltd.

Key Points

• Meitav Investment House Ltd. increased its stake in Prologis, Inc. by 6.1% during Q2, owning 651,384 shares valued at approximately $68.5 million.
• Multiple institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., also raised their stakes in Prologis, indicating strong institutional interest in the company.
• Prologis recently declared a quarterly dividend of $1.01 per share, with an annualized yield of 3.4%, despite a payout ratio above 100%.

Meitav Investment House Ltd. grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,384 shares of the real estate investment trust's stock after acquiring an additional 37,385 shares during the period. Prologis comprises approximately 1.0% of Meitav Investment House Ltd.'s portfolio, making the stock its 29th largest position. Meitav Investment House Ltd. owned 0.07% of Prologis worth $68,507,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after acquiring an additional 869,310 shares in the last quarter. Nuveen LLC acquired a new position in shares of Prologis in the first quarter worth $1,456,768,000. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Prologis by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust's stock worth $870,871,000 after acquiring an additional 507,367 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business'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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 26,500 shares of company stock worth $2,952,095. Company insiders own 0.57% of the company's stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $117.17 on Tuesday. The company has a 50-day simple moving average of $111.23 and a 200-day simple moving average of $107.62. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $108.76 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 2.96 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 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 business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The business's revenue 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, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Evercore ISI boosted their target price on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and an average price target of $122.58.

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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