DoubleLine ETF Adviser LP Sells 13,634 Shares of Prologis, Inc. $PLD

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Prologis, Inc. by 20.6%, now holding 52,624 shares valued at approximately $5.88 million.
• Prologis reported a Q2 EPS of $1.46, exceeding analysts' estimate of $1.41, and had a net margin of 40.29%.
• The company declared a quarterly dividend of $1.01, resulting in an annualized payout of $4.04, which translates to a dividend yield of 3.6%.

DoubleLine ETF Adviser LP cut its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,624 shares of the real estate investment trust's stock after selling 13,634 shares during the quarter. Prologis makes up 2.0% of DoubleLine ETF Adviser LP's investment portfolio, making the stock its 8th largest position. DoubleLine ETF Adviser LP's holdings in Prologis were worth $5,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eventide Asset Management LLC lifted its position in shares of Prologis by 131.1% during the first quarter. Eventide Asset Management LLC now owns 53,449 shares of the real estate investment trust's stock worth $5,923,000 after purchasing an additional 30,321 shares in the last quarter. Clark Capital Management Group Inc. grew its position in Prologis by 2.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 741,475 shares of the real estate investment trust's stock valued at $82,890,000 after buying an additional 21,013 shares in the last quarter. Banque Transatlantique SA grew its position in Prologis by 132.0% in the 1st quarter. Banque Transatlantique SA now owns 3,665 shares of the real estate investment trust's stock valued at $379,000 after buying an additional 2,085 shares in the last quarter. Alliancebernstein L.P. grew its position in Prologis by 3.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,614,772 shares of the real estate investment trust's stock valued at $404,095,000 after buying an additional 118,492 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Prologis by 70.4% in the 1st quarter. AQR Capital Management LLC now owns 610,404 shares of the real estate investment trust's stock valued at $67,981,000 after buying an additional 252,106 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares of the company's stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction on 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 directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Prologis Stock Down 1.2%

NYSE PLD traded down $1.36 during trading on Tuesday, reaching $112.20. The company's stock had a trading volume of 2,953,524 shares, compared to its average volume of 4,376,246. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The stock has a market capitalization of $104.15 billion, a PE ratio of 30.43, a PEG ratio of 2.85 and a beta of 1.26. 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 business has a 50-day moving average price of $108.73 and a 200-day moving average price of $108.09.

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, 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 company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company's quarterly 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, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend 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 109.49%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research analyst reports. Citigroup cut 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. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.83.

About Prologis

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.