Acadian Asset Management LLC Trims Stock Holdings in Prologis, Inc. $PLD

Key Points

• Acadian Asset Management LLC significantly reduced its holdings in Prologis, Inc. by 85.3%, selling 249,294 shares and retaining only 43,117 shares valued at approximately $4.82 million.
• Prologis announced a quarterly dividend of $1.01 per share, with a payment scheduled for September 30th, representing an annualized dividend of $4.04 and a yield of 3.5%.
• Recent earnings reports show Prologis exceeded consensus estimates with $1.46 earnings per share, a rise from the previous year, and the company has set guidance for FY 2025 at 5.750-5.800 EPS.

Acadian Asset Management LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 85.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,117 shares of the real estate investment trust's stock after selling 249,294 shares during the period. Acadian Asset Management LLC's holdings in Prologis were worth $4,818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Alley Investment Management Company LLC grew its position in Prologis by 102.8% during the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after purchasing an additional 54,914 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Prologis during the first quarter worth about $2,120,000. First Citizens Bank & Trust Co. increased its position in Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares during the period. Truist Financial Corp raised its stake in Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after acquiring an additional 25,229 shares during the last quarter. Finally, Ally Financial Inc. lifted its position in Prologis by 16.7% during the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLD. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Evercore ISI lifted their target price on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday. Finally, Mizuho set a $118.00 price target on shares of Prologis and gave the stock 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. Based on data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average target price of $122.17.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm'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 owned 414 shares of the company's stock, valued at $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. Company insiders own 0.57% of the company's stock.

Prologis Price Performance

PLD stock traded down $1.11 during trading on Monday, reaching $114.24. 2,717,370 shares of the company were exchanged, compared to its average volume of 3,159,174. 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's 50 day moving average price is $109.34 and its 200 day moving average price is $107.78. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $130.16. The company has a market cap of $106.04 billion, a P/E ratio of 30.96, a PEG ratio of 2.89 and a beta of 1.26.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.01 dividend. 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 is 109.49%.

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.