Prologis (NYSE:PLD) Sets New 12-Month High - Here's What Happened

Key Points

• Prologis shares reached a new 52-week high of $125.52, with the last trading price recorded at $125.27 and a trading volume of 392,299 shares.
• The company's quarterly earnings surpassed expectations, reporting $1.49 earnings per share against the anticipated $1.44, alongside a revenue of $2.05 billion.
• Prologis announced a quarterly dividend of $1.01 per share, yielding 3.2%, with a payout ratio of 117.78%.

Prologis, Inc. (NYSE:PLD - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $125.52 and last traded at $125.27, with a volume of 392299 shares trading hands. The stock had previously closed at $124.08.

Analyst Ratings Changes

Several brokerages have recently commented on PLD. Barclays decreased their target price on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. BMO Capital Markets raised shares of Prologis from an "underperform" rating to a "market perform" rating and set a $119.00 price target on the stock in a research report on Monday. Truist Financial reaffirmed a "buy" rating and issued a $131.00 price target (up from $120.00) on shares of Prologis in a research report on Monday. Finally, Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average price target of $124.30.

Prologis Price Performance

The company has a fifty day simple moving average of $113.12 and a two-hundred day simple moving average of $108.07. The stock has a market capitalization of $117.54 billion, a P/E ratio of 36.91, a PEG ratio of 3.13 and a beta of 1.28. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

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 for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis's payout ratio is currently 117.78%.

Insider Buying and Selling

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer owned 414 shares of the company's stock, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $2,952,095 over the last 90 days. 0.57% of the stock is owned by company insiders.

Institutional Trading of Prologis

Several hedge funds have recently modified their holdings of PLD. Clayton Financial Group LLC acquired a new stake in shares of Prologis during the 3rd quarter worth approximately $26,000. Activest Wealth Management lifted its holdings in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 223 shares during the period. Pandora Wealth Inc. acquired a new stake in Prologis in the first quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis during the first quarter worth about $34,000. Finally, Saudi Central Bank purchased a new stake in shares of Prologis in the first quarter valued at $41,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

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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