Guggenheim Capital LLC Sells 16,793 Shares of Prologis, Inc. $PLD

Key Points

• Guggenheim Capital LLC reduced its holdings in Prologis, Inc. by 10.4% in the first quarter, owning 144,918 shares valued at approximately $16.2 million after selling 16,793 shares.
• Prologis reported $1.46 EPS for the quarter, exceeding analyst estimates of $1.41, and has set its FY 2025 guidance at 5.750-5.800 EPS.
• Several analysts have reduced their price targets for Prologis, with a consensus rating of "Moderate Buy" and an average price target of $121.83.

Guggenheim Capital LLC trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,918 shares of the real estate investment trust's stock after selling 16,793 shares during the period. Guggenheim Capital LLC's holdings in Prologis were worth $16,200,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLD. REAP Financial Group LLC boosted its position in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the period. LaSalle St. Investment Advisors LLC boosted its position in Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares during the period. Van Hulzen Asset Management LLC boosted its position in Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after acquiring an additional 96 shares during the period. Focus Financial Network Inc. boosted its position in Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 104 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its position in Prologis by 5.1% during the 1st quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after acquiring an additional 107 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Prologis Trading Down 2.4%

Shares of NYSE:PLD traded down $2.74 during midday trading on Tuesday, hitting $111.04. The company had a trading volume of 848,048 shares, compared to its average volume of 4,407,050. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $103.07 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 2.85 and a beta of 1.26. The firm has a fifty day simple moving average of $108.05 and a 200 day simple moving average of $108.39.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's dividend payout ratio is presently 109.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho set a $118.00 target price on Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Truist Financial lowered their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, 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 report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.