Zurich Insurance Group Ltd FI Takes Position in Prologis, Inc. $PLD

Key Points

• Zurich Insurance Group acquired a stake of 194,934 shares in Prologis, Inc., valued at approximately $21.79 million, indicating growing institutional interest in the real estate investment trust.
• Prologis reported earnings of $1.46 per share for the latest quarter, surpassing analysts' expectations and reflecting an 8.8% revenue increase year-over-year.
• The company has announced a quarterly dividend of $1.01 per share, with a payout ratio of 109.49%, set to be distributed on September 30th.

Zurich Insurance Group Ltd FI bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 194,934 shares of the real estate investment trust's stock, valued at approximately $21,792,000.

Several other hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC increased its position in Prologis by 5.2% during the first quarter. Empowered Funds LLC now owns 41,877 shares of the real estate investment trust's stock worth $4,681,000 after buying an additional 2,080 shares during the last quarter. MBB Public Markets I LLC acquired a new position in Prologis during the first quarter worth $315,000. Ascent Group LLC increased its position in Prologis by 19.7% during the first quarter. Ascent Group LLC now owns 6,705 shares of the real estate investment trust's stock worth $750,000 after buying an additional 1,102 shares during the last quarter. Arete Wealth Advisors LLC grew its position in shares of Prologis by 6.1% in the first quarter. Arete Wealth Advisors LLC now owns 6,791 shares of the real estate investment trust's stock valued at $759,000 after purchasing an additional 390 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in shares of Prologis by 7.2% in the first quarter. Fred Alger Management LLC now owns 26,119 shares of the real estate investment trust's stock valued at $2,920,000 after purchasing an additional 1,745 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Finally, Scotiabank set a $114.00 price target on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm'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 transaction, the director directly 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 disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Prologis Stock Performance

Shares of NYSE:PLD traded up $0.66 on Friday, reaching $115.48. 3,547,364 shares of the company's stock were exchanged, compared to its average volume of 3,077,774. 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 capitalization of $107.20 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.88 and a beta of 1.26. The company has a fifty day moving average of $109.18 and a 200-day moving average of $108.05. 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 quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The business 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%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.5%. Prologis's dividend payout ratio is presently 109.49%.

Prologis 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.