Zimmer Partners LP Has $15.37 Million Holdings in Prologis, Inc. $PLD

Key Points

• Zimmer Partners LP has increased its stake in Prologis, Inc. by 10.0% during the first quarter, holding a total of $15.37 million in shares after purchasing additional stock.
• A variety of institutional investors, including Vanguard Group and Nuveen LLC, have also increased their positions in Prologis, leading to over 93.50% of the stock being owned by institutional investors and hedge funds.
• Prologis announced a quarterly dividend of $1.01 per share, set to be paid on September 30th, representing a 3.6% dividend yield.

Zimmer Partners LP raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,500 shares of the real estate investment trust's stock after acquiring an additional 12,500 shares during the quarter. Zimmer Partners LP's holdings in Prologis were worth $15,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of 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 last quarter. Cary Street Partners Financial LLC acquired a new stake in Prologis in the 4th quarter valued at $99,000. First Manhattan CO. LLC. lifted its stake in Prologis by 120.9% during the 4th quarter. First Manhattan CO. LLC. now owns 12,095 shares of the real estate investment trust's stock valued at $1,278,000 after acquiring an additional 6,619 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Prologis by 23.6% during the 4th quarter. Focus Partners Wealth now owns 92,045 shares of the real estate investment trust's stock worth $9,807,000 after purchasing an additional 17,576 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Prologis by 61.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 491,991 shares of the real estate investment trust's stock worth $52,003,000 after acquiring an additional 188,101 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent research reports. Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Citigroup decreased their target price 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, UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

PLD traded up $0.66 during trading on Friday, hitting $115.48. The company's stock had a trading volume of 3,547,364 shares, compared to its average volume of 4,381,011. 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 business's fifty day simple moving average is $109.03 and its 200 day simple moving average is $108.10. The firm has a market capitalization of $107.20 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 2.78 and a beta of 1.26. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.39.

Prologis (NYSE:PLD - Get Free Report) last posted its 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 company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis's dividend payout ratio is currently 109.49%.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

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.