Vanguard Group Inc. Acquires 401,922 Shares of Prologis, Inc. $PLD

Vanguard Group Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,741,332 shares of the real estate investment trust's stock after buying an additional 401,922 shares during the period. Vanguard Group Inc. owned 13.12% of Prologis worth $12,797,449,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management increased its position in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in shares of Prologis during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter valued at about $41,000. Finally, Barrett & Company Inc. bought a new position in Prologis in the second quarter worth about $44,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company'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 value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $123.14, for a total transaction of $61,570.00. Following the sale, the director owned 8,829 shares in the company, valued at approximately $1,087,203.06. The trade was a 5.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,000 shares of company stock worth $3,013,665 over the last three months. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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Several analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Prologis in a research report on Thursday. Industrial Alliance Securities set a $119.00 target price on Prologis in a research note on Monday, October 20th. Barclays dropped their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, UBS Group set a $133.00 price objective on Prologis in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average target price of $125.39.

Get Our Latest Report on Prologis

Prologis Stock Up 0.7%

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PLD stock opened at $123.63 on Tuesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $114.83 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The business has a 50 day moving average of $119.34 and a 200 day moving average of $111.98.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS 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 business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis's payout ratio is presently 117.78%.

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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