Syntax Research Inc. Decreases Stock Holdings in Prologis, Inc. $PLD

Syntax Research Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,352 shares of the real estate investment trust's stock after selling 3,716 shares during the period. Prologis comprises approximately 2.1% of Syntax Research Inc.'s investment portfolio, making the stock its 15th largest holding. Syntax Research Inc.'s holdings in Prologis were worth $2,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Activest Wealth Management lifted its holdings 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 in the last quarter. Pandora Wealth Inc. purchased a new position in Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the 1st quarter valued at $34,000. Saudi Central Bank purchased a new position in Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new position in Prologis in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLD shares. Scotiabank set a $114.00 price objective on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Evercore ISI raised their price objective on Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Citigroup cut their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Mizuho set a $118.00 target price on Prologis and gave the stock 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 given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average price target of $122.58.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by insiders.

Prologis Stock Down 0.2%

Shares of PLD opened at $116.22 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. The company has a market capitalization of $107.88 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.94 and a beta of 1.28. The stock has a fifty day simple moving average of $110.90 and a two-hundred day simple moving average of $107.59. 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 (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 16th. 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.

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