Vert Asset Management LLC Increases Stock Holdings in Prologis, Inc. $PLD

Key Points

• Vert Asset Management LLC increased its stake in Prologis, Inc. by 6.5%, owning 184,251 shares following the acquisition of an additional 11,176 shares.
• Prologis reported earnings of $1.46 EPS for the latest quarter, beating estimates, with quarterly revenue of $2.03 billion, marking an 8.8% year-over-year increase.
• The company's dividend yield is 3.5%, with a recent quarterly payment of $1.01 per share, despite having a payout ratio of 109.49%.

Vert Asset Management LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,251 shares of the real estate investment trust's stock after acquiring an additional 11,176 shares during the quarter. Prologis makes up about 7.1% of Vert Asset Management LLC's portfolio, making the stock its 5th biggest position. Vert Asset Management LLC's holdings in Prologis were worth $19,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Nuveen LLC purchased a new stake in shares of Prologis during the 1st quarter valued at $1,456,768,000. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after purchasing an additional 2,862,183 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Prologis by 5,678.8% during the 1st quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock valued at $160,617,000 after purchasing an additional 1,411,910 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Prologis during the 1st quarter valued at $98,308,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD opened at $116.47 on Thursday. The stock has a 50-day moving average of $110.77 and a two-hundred day moving average of $107.58. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $108.11 billion, a P/E ratio of 31.56, a P/E/G ratio of 2.89 and a beta of 1.28.

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 business had revenue of $2.03 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%.The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's payout ratio is 109.49%.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup decreased their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average 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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