Turtle Creek Wealth Advisors LLC Grows Stock Holdings in Prologis, Inc. $PLD

Key Points

• Turtle Creek Wealth Advisors LLC increased its ownership in Prologis, Inc. by 35.3% in Q2, now holding 28,806 shares valued at $3,028,000.
• Prologis reported $1.49 EPS for the last quarter, surpassing analysts' expectations, with revenues of $2.05 billion, marking an 8.6% year-over-year increase.
• The company announced a quarterly dividend of $1.01 per share on September 30, translating to an annualized yield of 3.3% and a dividend payout ratio of 109.49%.

Turtle Creek Wealth Advisors LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 35.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,806 shares of the real estate investment trust's stock after buying an additional 7,510 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Prologis were worth $3,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alley Investment Management Company LLC grew its holdings in shares of Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after buying an additional 54,914 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Prologis during the first quarter worth about $2,120,000. Truist Financial Corp grew its holdings in shares of Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after buying an additional 25,229 shares during the last quarter. Ally Financial Inc. grew its holdings in shares of Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust's stock worth $3,130,000 after buying an additional 4,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock valued at $33,249,000 after purchasing an additional 6,350 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

PLD stock opened at $122.83 on Thursday. The firm has a 50 day moving average of $112.45 and a 200-day moving average of $107.91. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market cap of $114.07 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.92 and a beta of 1.28.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.43 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared 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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 500 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 9,329 shares of the company's stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Prologis in a research report on Wednesday, October 8th. 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. Evercore ISI raised 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. 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 shares of Prologis from a "neutral" rating to a "buy" rating and raised their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two investment 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 company. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.58.

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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