Sequoia Financial Advisors LLC Buys 6,140 Shares of Prologis, Inc. $PLD

Key Points

• Sequoia Financial Advisors LLC increased its stake in Prologis, Inc. by 44.5%, acquiring an additional 6,140 shares, bringing its total holdings to nearly 20,000 shares valued at approximately $2.1 million.
• Prologis announced a quarterly dividend of $1.01, resulting in an annualized dividend yield of 3.3%, although its payout ratio stands at 109.49%, indicating that it pays out more in dividends than it earns.
• The company reported a 8.6% increase in revenue year-over-year, reaching $2.05 billion in its latest quarterly earnings, surpassing analysts' expectations.

Sequoia Financial Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 44.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,953 shares of the real estate investment trust's stock after purchasing an additional 6,140 shares during the period. Sequoia Financial Advisors LLC's holdings in Prologis were worth $2,098,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management raised 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 worth $29,000 after purchasing an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis in the 1st quarter valued at $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Prologis in the 1st quarter valued at $43,000. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm'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 completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm'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 completion of the transaction, the director owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on PLD. Evercore ISI upped their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. 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. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

Prologis Price Performance

PLD stock opened at $122.83 on Thursday. The stock has a market cap of $114.07 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 2.92 and a beta of 1.28. The stock has a 50-day moving average price of $112.45 and a two-hundred day moving average price of $107.91. 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 1 year low of $85.35 and a 1 year high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion during 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%.Prologis's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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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