Shell Asset Management Co. Boosts Stock Position in Prologis, Inc. $PLD

Key Points

• Shell Asset Management Co. increased its stake in Prologis, Inc. by 60.7% in Q2, acquiring an additional 9,136 shares, bringing its total holdings to 24,196 shares valued at approximately $2.54 million.
• In recent trading, Prologis's stock price opened at $116.07, with a market capitalization of $107.79 billion and a price-to-earnings ratio of 31.46.
• The company announced a quarterly dividend of $1.01, which corresponds to an annualized dividend yield of 3.5%, but has a high payout ratio of 109.49%.

Shell Asset Management Co. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 60.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,196 shares of the real estate investment trust's stock after purchasing an additional 9,136 shares during the quarter. Shell Asset Management Co.'s holdings in Prologis were worth $2,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Activest Wealth Management boosted its holdings in shares of 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 in the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis in the 1st quarter valued at about $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Prologis in the 1st quarter valued at about $43,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 in the last three months. Corporate insiders own 0.57% of the company's stock.

Prologis Trading Up 0.1%

PLD opened at $116.07 on Thursday. The business has a 50 day simple moving average of $111.51 and a two-hundred day simple moving average of $107.74. The firm has a market capitalization of $107.79 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65.

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 return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $1.34 EPS. Prologis'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. Analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis's dividend payout ratio is currently 109.49%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLD shares. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Bank of America raised Prologis from a "neutral" rating to a "buy" rating and boosted their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Evercore ISI boosted their target price on Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Prologis in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $122.58.

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.

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