Prologis, Inc. $PLD Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Prologis, Inc. (NYSE:PLD) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,085 shares of the real estate investment trust’s stock after purchasing an additional 1,875 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Prologis were worth $4,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bar Harbor Wealth Management increased its stake in Prologis by 11.1% during the second quarter. Bar Harbor Wealth Management now owns 18,014 shares of the real estate investment trust’s stock worth $1,894,000 after acquiring an additional 1,798 shares during the last quarter. REAP Financial Group LLC increased its stake in Prologis by 72.1% during the second quarter. REAP Financial Group LLC now owns 1,029 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 431 shares during the last quarter. Shell Asset Management Co. increased its stake in Prologis by 60.7% during the second quarter. Shell Asset Management Co. now owns 24,196 shares of the real estate investment trust’s stock worth $2,543,000 after acquiring an additional 9,136 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Prologis by 6.1% during the second quarter. KLP Kapitalforvaltning AS now owns 347,441 shares of the real estate investment trust’s stock worth $36,523,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in Prologis by 32.7% during the second quarter. Tyche Wealth Partners LLC now owns 3,801 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 937 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 1.4%

Shares of PLD opened at $114.40 on Friday. The company has a market capitalization of $106.24 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.93 and a beta of 1.28. 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 50-day moving average price of $111.66 and a 200 day moving average price of $107.77.

Prologis (NYSE:PLD) last issued its quarterly 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. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis’s dividend payout ratio is currently 109.49%.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company’s stock, 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 in the last three months. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on PLD shares. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their target price for the stock 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 given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $122.58.

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.