SCS Capital Management LLC Purchases Shares of 3,054 Prologis, Inc. $PLD

Key Points

• SCS Capital Management LLC purchased 3,054 shares of Prologis, Inc. (NYSE: PLD), valued at approximately $341,000, during the first quarter.
• Prologis reported an EPS of $1.46 for the last quarter, surpassing estimates, and projected FY 2025 EPS guidance between $5.750 and $5.800.
• The company declared a quarterly dividend of $1.01, with a dividend yield of 3.5%, scheduled for payment on September 30th.

SCS Capital Management LLC purchased a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,054 shares of the real estate investment trust's stock, valued at approximately $341,000.

Several other institutional investors also recently modified their holdings of the stock. Legacy Advisory Services LLC bought a new position in shares of Prologis in the first quarter valued at $209,000. Palogic Value Management L.P. bought a new position in shares of Prologis in the first quarter valued at $227,000. Zimmer Partners LP increased its holdings in shares of Prologis by 10.0% in the first quarter. Zimmer Partners LP now owns 137,500 shares of the real estate investment trust's stock valued at $15,371,000 after buying an additional 12,500 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Prologis in the first quarter valued at $21,792,000. Finally, Empowered Funds LLC increased its holdings in shares of Prologis by 5.2% in the first quarter. Empowered Funds LLC now owns 41,877 shares of the real estate investment trust's stock valued at $4,681,000 after buying an additional 2,080 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Trading Up 3.7%

Prologis stock opened at $115.09 on Friday. The company's fifty day simple moving average is $109.03 and its 200-day simple moving average is $108.10. The company has a quick ratio of 0.65, a current 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 stock has a market cap of $106.83 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.78 and a beta of 1.26.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results 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 company posted $1.34 EPS. Prologis's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's payout ratio is presently 109.49%.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value 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. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 completion of the sale, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Citigroup cut their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Scotiabank set a $114.00 target price on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Two investment 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 stock. According to MarketBeat, the stock 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.

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