Prologis, Inc. $PLD Shares Sold by Figure 8 Investment Strategies LLC

Key Points

• Figure 8 Investment Strategies LLC reduced its stake in Prologis, Inc. by 39.3%, now holding 13,326 shares valued at approximately $1.4 million.
• Insider trading activity included Director Cristina Gabriela Bita selling 500 shares for $57,845, and CAO Lori A. Palazzolo selling 25,000 shares for $2.78 million.
• Prologis recently announced a quarterly dividend of $1.01 per share, yielding 3.5%, despite having a high dividend payout ratio of 109.49%.

Figure 8 Investment Strategies LLC cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 39.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,326 shares of the real estate investment trust's stock after selling 8,629 shares during the period. Prologis accounts for about 1.4% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 27th largest position. Figure 8 Investment Strategies LLC's holdings in Prologis were worth $1,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after buying an additional 223 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the 1st quarter worth $34,000. Saudi Central Bank acquired a new stake in Prologis during the 1st quarter worth about $41,000. Finally, Olde Wealth Management LLC purchased a new stake in Prologis during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company's stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLD. Weiss Ratings restated a "hold (c)" rating on shares of Prologis in a research note on Saturday, September 27th. Barclays dropped their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and boosted their target price for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Finally, Citigroup decreased their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average target price of $122.58.

Prologis Trading Up 0.8%

Shares of Prologis stock opened at $117.09 on Friday. The firm has a 50-day simple moving average of $111.03 and a two-hundred day simple moving average of $107.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a market cap of $108.69 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis's dividend payout ratio (DPR) is currently 109.49%.

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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