Great Lakes Advisors LLC Decreases Stock Holdings in Prologis, Inc. $PLD

by · The Markets Daily

Great Lakes Advisors LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLDFree Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,983 shares of the real estate investment trust’s stock after selling 31,372 shares during the period. Great Lakes Advisors LLC’s holdings in Prologis were worth $80,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after acquiring an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new stake in Prologis during the 1st quarter valued at $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust’s stock valued at $1,125,586,000 after buying an additional 505,318 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after buying an additional 93,201 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after buying an additional 1,146,454 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the 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 of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction 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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of Prologis stock opened at $113.57 on Monday. The stock’s fifty day moving average is $108.56 and its two-hundred day moving average is $108.14. The company has a market capitalization of $105.42 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLDGet Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for 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 quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis’s dividend payout ratio is presently 109.49%.

Analyst Ratings Changes

Several analysts recently weighed in on PLD shares. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. UBS Group increased 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. Finally, Citigroup decreased their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.83.

Check Out Our Latest Stock Analysis on Prologis

Prologis Profile

(Free Report)

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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