Sweeney & Michel LLC Acquires 2,266 Shares of Prologis, Inc. $PLD

Key Points

• Sweeney & Michel LLC increased its holdings in Prologis, Inc. by 10.6%, holding 23,580 shares after acquiring an additional 2,266 shares in the second quarter.
• Prologis announced a quarterly dividend of $1.01 per share, with a yield of 3.6%, to be paid on September 30th.
• The company's recent earnings report showed an EPS of $1.46, surpassing analyst estimates, with revenue of $2.03 billion, indicating an 8.8% year-over-year growth.

Sweeney & Michel LLC lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,580 shares of the real estate investment trust's stock after purchasing an additional 2,266 shares during the quarter. Prologis accounts for approximately 0.9% of Sweeney & Michel LLC's holdings, making the stock its 24th largest position. Sweeney & Michel LLC's holdings in Prologis were worth $2,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Brighton Jones LLC boosted its position in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Prologis during the fourth quarter valued at $3,800,000. Voloridge Investment Management LLC purchased a new position in Prologis in the 4th quarter worth about $4,561,000. Focus Partners Advisor Solutions LLC raised its holdings in Prologis by 7.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,917 shares of the real estate investment trust's stock worth $414,000 after buying an additional 256 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Prologis during the fourth quarter valued at about $308,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

NYSE:PLD traded up $0.64 during mid-day trading on Monday, hitting $114.15. 2,798,672 shares of the company's stock traded hands, compared to its average volume of 3,424,840. 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 firm has a 50 day moving average of $109.95 and a two-hundred day moving average of $107.50. The firm has a market capitalization of $105.96 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.87 and a beta of 1.26. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Prologis'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, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's payout ratio is currently 109.49%.

Insider Buying and Selling at Prologis

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 completion of the sale, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction on 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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLD shares. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. UBS Group boosted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.