Prologis, Inc. $PLD is Resolution Capital Ltd's 10th Largest Position

Key Points

• Resolution Capital Ltd reduced its stake in Prologis, Inc. by 13%, owning approximately $243.36 million worth, making it the firm's 10th largest holding.
• Prologis recently reported an earnings per share (EPS) of $1.46, surpassing estimates and reflecting an 8.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $1.01 per share, yielding around 3.6%, with a payout ratio currently at 109.49%.

Resolution Capital Ltd lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,176,937 shares of the real estate investment trust's stock after selling 326,391 shares during the quarter. Prologis comprises approximately 4.7% of Resolution Capital Ltd's investment portfolio, making the stock its 10th largest holding. Resolution Capital Ltd owned about 0.23% of Prologis worth $243,360,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its position in Prologis by 637.1% in the 1st 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 boosted its holdings 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 worth $31,000 after acquiring an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new position in Prologis during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis during the 1st quarter worth $34,000. Finally, Saudi Central Bank purchased a new position in Prologis during the 1st quarter worth $41,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Transactions at Prologis

In other news, 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 sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company's 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 in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

PLD has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Mizuho set a $118.00 price objective on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Finally, Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $121.83.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.95 during mid-day trading on Wednesday, reaching $111.02. 3,040,703 shares of the company's stock were exchanged, compared to its average volume of 2,917,187. The firm has a market capitalization of $103.05 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.81 and a beta of 1.26. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50-day moving average price of $108.83 and a two-hundred day moving average price of $108.11.

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

Prologis Dividend Announcement

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 paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is currently 109.49%.

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.