Prologis, Inc. $PLD Shares Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its stake in Prologis, Inc. by 482.6% in the second quarter, owning 108,886 shares valued at $11.4 million after purchasing an additional 90,197 shares.
• Prologis stock has recently received mixed analyst ratings, with a consensus price target of $122.58 and Bank of America upgrading its rating from "neutral" to "buy" with a new price objective of $130.
• The company announced a quarterly dividend of $1.01 per share, representing a 3.5% dividend yield, with a payout ratio of 109.49%.

Ninety One UK Ltd grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 482.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,886 shares of the real estate investment trust's stock after purchasing an additional 90,197 shares during the quarter. Ninety One UK Ltd's holdings in Prologis were worth $11,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis in the 1st quarter valued at $34,000. Saudi Central Bank acquired a new position in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Prologis in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of 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 target price on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Finally, Evercore ISI lifted their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $122.58.

Prologis Price Performance

Prologis stock opened at $116.47 on Thursday. 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 simple moving average is $110.77 and its 200 day simple moving average is $107.58. The firm has a market capitalization of $108.11 billion, a PE ratio of 31.56, a P/E/G ratio of 2.89 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping 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 analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $1.34 EPS. The business'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, equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis's payout ratio is currently 109.49%.

Insider Activity

In related 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 value of $2,783,250.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

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.

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