Prologis, Inc. $PLD Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in Prologis, Inc. by 25.0%, bringing its total to 20,278 shares valued at approximately $2.13 million after acquiring additional shares.
• Prologis has received multiple updates from analysts, with UBS Group raising its price target from $106.00 to $120.00 and several other institutions giving varied ratings, resulting in an average target of $121.83.
• The company recently announced a quarterly dividend of $1.01 per share, with an annualized yield of 3.5%, and reported a strong earnings performance in its last quarter.

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 25.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,278 shares of the real estate investment trust's stock after acquiring an additional 4,050 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Prologis were worth $2,131,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after buying an additional 15,078 shares during the period. ProShare Advisors LLC boosted its stake in Prologis by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 182,861 shares of the real estate investment trust's stock worth $19,328,000 after purchasing an additional 11,645 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Prologis during the fourth quarter valued at $387,000. Royal Bank of Canada lifted its stake in Prologis by 3.3% in the fourth quarter. Royal Bank of Canada now owns 4,686,333 shares of the real estate investment trust's stock valued at $495,347,000 after buying an additional 150,200 shares during the period. Finally, Toronto Dominion Bank lifted its stake in Prologis by 8.2% in the fourth quarter. Toronto Dominion Bank now owns 498,725 shares of the real estate investment trust's stock valued at $52,715,000 after buying an additional 37,661 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Citigroup decreased their price target 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, Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Two investment 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 company currently has an average rating of "Moderate Buy" and an average price target of $121.83.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Prologis Stock Up 0.6%

Shares of NYSE:PLD opened at $115.48 on Friday. The company has a market capitalization of $107.20 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 2.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The business's 50-day moving average is $109.18 and its 200-day moving average is $107.95. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.39.

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

Prologis Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.