Stanley Laman Group Ltd. Decreases Stock Position in Prologis, Inc. $PLD

Key Points

• Stanley Laman Group Ltd. reduced its stake in Prologis, Inc. by 9.1% in Q2, owning 22,295 shares valued at approximately $2.34 million.
• A significant portion of Prologis stock, approximately 93.50%, is held by hedge funds and institutional investors, with several firms increasing their holdings in recent quarters.
• Prologis recently announced a quarterly dividend of $1.01 per share, resulting in an annualized dividend yield of 3.3%.

Stanley Laman Group Ltd. cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,295 shares of the real estate investment trust's stock after selling 2,219 shares during the period. Stanley Laman Group Ltd.'s holdings in Prologis were worth $2,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Brighton Jones LLC boosted its holdings in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. GAMMA Investing LLC boosted its holdings in Prologis by 19.6% in the first quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust's stock valued at $1,333,000 after purchasing an additional 1,956 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Prologis by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,605 shares of the real estate investment trust's stock valued at $6,216,000 after purchasing an additional 4,851 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Prologis by 17.2% in the first quarter. Exchange Traded Concepts LLC now owns 7,066 shares of the real estate investment trust's stock valued at $790,000 after purchasing an additional 1,035 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its holdings in Prologis by 10.0% in the first quarter. Johnson Investment Counsel Inc. now owns 13,832 shares of the real estate investment trust's stock valued at $1,546,000 after purchasing an additional 1,259 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLD. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Barclays cut their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research note on Monday, September 15th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.74.

Insider Transactions at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. 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 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 in the last quarter. Insiders own 0.57% of the company's stock.

Prologis Stock Up 2.6%

PLD opened at $124.27 on Friday. The business's 50-day simple moving average is $113.12 and its 200-day simple moving average is $108.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. Prologis, Inc. has a one year low of $85.35 and a one year high of $125.04. The stock has a market capitalization of $115.40 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 3.05 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

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 dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. Prologis's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.