Prologis, Inc. $PLD Shares Sold by Turn8 Private Wealth Inc.

Key Points

• Turn8 Private Wealth Inc. reduced its holdings in Prologis, Inc. by 10.8% in the first quarter, now owning 23,095 shares valued at $2.58 million.
• Insider trading activity included CAO Lori A. Palazzolo selling 25,000 shares and Director Cristina Gabriela Bita selling 1,000 shares, significantly reducing their ownership stakes.
• Prologis reported a 12-month high of $132.39 and recently set a quarterly dividend of $1.01, with an annualized yield of 3.6%.

Turn8 Private Wealth Inc. decreased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,095 shares of the real estate investment trust's stock after selling 2,784 shares during the quarter. Turn8 Private Wealth Inc.'s holdings in Prologis were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Activest Wealth Management raised its position 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 valued at $29,000 after buying an additional 223 shares during the last quarter. REAP Financial Group LLC raised its holdings in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the first quarter worth $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis in the first quarter valued at $41,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLD. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. 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. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. 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. Finally, Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Prologis Stock Down 0.9%

Shares of NYSE PLD opened at $111.02 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.39. The company has a market cap of $103.05 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.81 and a beta of 1.26. The stock has a fifty day moving average price of $108.89 and a 200 day moving average price of $108.13.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

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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