Prologis, Inc. $PLD Shares Purchased by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC increased its holdings in Prologis, Inc. by 9.1% during the second quarter, acquiring a total of 63,949 shares valued at approximately $6.72 million.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, surpassing analyst expectations, with revenues of $2.03 billion, marking an 8.8% year-over-year increase.
• The company recently announced a quarterly dividend of $1.01 per share, resulting in a 3.6% dividend yield and a payout ratio of 109.49%.

Naviter Wealth LLC increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,949 shares of the real estate investment trust's stock after acquiring an additional 5,325 shares during the quarter. Prologis makes up about 0.8% of Naviter Wealth LLC's portfolio, making the stock its 22nd biggest holding. Naviter Wealth LLC's holdings in Prologis were worth $6,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management lifted its position in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 223 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the first quarter worth about $34,000. Saudi Central Bank acquired a new stake in shares of Prologis during the first quarter worth about $41,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Prologis during the first quarter worth about $43,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Shares of Prologis stock opened at $112.67 on Tuesday. The firm has a market capitalization of $104.64 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.81 and a beta of 1.28. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. 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 firm's 50 day moving average is $111.94 and its two-hundred day moving average is $107.75.

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

Prologis Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PLD. Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Evercore ISI increased their price target on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and increased their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Prologis in a research report on Wednesday, October 8th. Finally, Barclays reduced their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.58.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the firm's 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 transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,500 shares of company stock worth $2,952,095. 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.

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