Advisors Asset Management Inc. Decreases Stake in Prologis, Inc. $PLD

Key Points

• Advisors Asset Management Inc. reduced its stake in Prologis, Inc. by 44.9%, selling over 20,000 shares, leaving them with approximately 25,747 shares worth $2.88 million at the end of Q1.
• Prologis reported a quarterly earnings per share of $1.46, exceeding expectations by $0.05, with a revenue of $2.03 billion, reflecting an 8.8% year-over-year increase.
• Prologis announced a quarterly dividend of $1.01 per share, representing a 3.6% dividend yield, with a payout ratio of 109.49%.

Advisors Asset Management Inc. cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 44.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,747 shares of the real estate investment trust's stock after selling 20,993 shares during the quarter. Advisors Asset Management Inc.'s holdings in Prologis were worth $2,878,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLD. Brighton Jones LLC lifted its position in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Prologis during the fourth quarter valued at about $99,000. Captrust Financial Advisors lifted its position in shares of Prologis by 9.7% during the fourth quarter. Captrust Financial Advisors now owns 39,280 shares of the real estate investment trust's stock valued at $4,152,000 after buying an additional 3,477 shares during the last quarter. BOKF NA lifted its position in shares of Prologis by 19.8% during the fourth quarter. BOKF NA now owns 1,601 shares of the real estate investment trust's stock valued at $166,000 after buying an additional 265 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of Prologis by 2.0% during the fourth quarter. EP Wealth Advisors LLC now owns 14,710 shares of the real estate investment trust's stock valued at $1,555,000 after buying an additional 292 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE:PLD traded up $0.66 during midday trading on Friday, hitting $115.48. The company's stock had a trading volume of 3,547,364 shares, compared to its average volume of 3,077,774. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.39. The firm's 50 day moving average is $109.18 and its 200-day moving average is $108.05. 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 firm has a market cap of $107.20 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.88 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS 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 analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.5%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup decreased their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. 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, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $121.83.

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 sale, the director owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 disclosure for this sale can be found here. 0.57% of the stock is owned by company 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.