Prologis, Inc. $PLD Shares Sold by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd has reduced its stake in Prologis, Inc. by 7.2%, selling 27,858 shares during the 1st quarter, now holding 357,926 shares valued at approximately $40 million.
• Prologis announced a quarterly dividend of $1.01 per share, representing an annualized dividend of $4.04 and a yield of 3.6%, with the payout date set for September 30th.
• Multiple analysts have varied ratings and price targets for Prologis stock, with Wells Fargo setting a target at $137.00, while Wall Street Zen has downgraded it to a "sell" rating.

IFM Investors Pty Ltd reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,926 shares of the real estate investment trust's stock after selling 27,858 shares during the quarter. IFM Investors Pty Ltd's holdings in Prologis were worth $40,013,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLD. Activest Wealth Management increased its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares during the period. REAP Financial Group LLC increased its stake in Prologis by 40.0% in the fourth 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. Pandora Wealth Inc. acquired a new position in Prologis in the first quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis in the first quarter valued at $34,000. Finally, Saudi Central Bank acquired a new position in Prologis in the first quarter valued at $41,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PLD. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. UBS Group upped their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Citigroup lowered their price target 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 research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.83.

Prologis Trading Down 1.4%

Prologis stock opened at $111.93 on Wednesday. The firm's 50-day moving average is $108.83 and its 200-day moving average is $108.11. 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 1 year low of $85.35 and a 1 year high of $132.57. The company has a market cap of $103.90 billion, a P/E ratio of 30.33, a PEG ratio of 2.85 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping 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 business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company earned $1.34 EPS. The company's revenue for the quarter 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, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is 109.49%.

Insider Transactions at Prologis

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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 completion of the sale, the chief accounting officer directly owned 414 shares in the company, 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. 0.57% of the stock is owned by company insiders.

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.

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