Prologis, Inc. $PLD Shares Sold by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC reduced its stake in Prologis, Inc. by 26.9%, selling 4,317 shares, bringing its total holdings to 11,718 shares valued at approximately $1.31 million.
• Prologis announced a quarterly dividend of $1.01 per share, with a payout ratio of 109.49% and an annual dividend yield of 3.5% for the fiscal year.
• Analysts have set varying price targets for Prologis shares, with an average target of $121.83, highlighting a consensus rating of "Moderate Buy" for the stock.

Evergreen Capital Management LLC cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,718 shares of the real estate investment trust's stock after selling 4,317 shares during the period. Evergreen Capital Management LLC's holdings in Prologis were worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its position in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after acquiring an additional 15,078 shares during the period. AQR Capital Management LLC raised its holdings in shares of Prologis by 49.9% during the fourth quarter. AQR Capital Management LLC now owns 358,298 shares of the real estate investment trust's stock worth $37,836,000 after purchasing an additional 119,297 shares during the last quarter. Keel Point LLC lifted its holdings in shares of Prologis by 7.7% in the 4th quarter. Keel Point LLC now owns 2,986 shares of the real estate investment trust's stock valued at $316,000 after buying an additional 213 shares during the period. Gallagher Fiduciary Advisors LLC boosted its position in Prologis by 9.0% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,296 shares of the real estate investment trust's stock worth $243,000 after purchasing an additional 189 shares in the last quarter. Finally, Anson Funds Management LP purchased a new stake in Prologis during the fourth quarter worth $2,929,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Trading Up 1.1%

Shares of PLD stock opened at $113.93 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. 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 fifty day moving average price is $107.91 and its 200 day moving average price is $108.53. The firm has a market capitalization of $105.76 billion, a PE ratio of 30.88, a P/E/G ratio of 2.85 and a beta of 1.21.

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, beating 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 firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $1.34 EPS. The firm's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. 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. Finally, Robert W. Baird cut their price target on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.83.

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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