AlphaStar Capital Management LLC Has $342,000 Stake in Prologis, Inc. $PLD

by · The Markets Daily

AlphaStar Capital Management LLC decreased its stake in Prologis, Inc. (NYSE:PLDFree Report) by 44.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,251 shares of the real estate investment trust’s stock after selling 2,553 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Prologis were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Activest Wealth Management lifted its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in Prologis in the first quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis in the first quarter valued at about $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the first quarter worth about $41,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Prologis in the first quarter worth about $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1%

NYSE:PLD opened at $124.31 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The company has a market cap of $115.44 billion, a PE ratio of 36.24, a PEG ratio of 3.13 and a beta of 1.28. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The stock has a 50-day simple moving average of $116.76 and a 200 day simple moving average of $110.18.

Prologis (NYSE:PLDGet 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, beating analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the business’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 in the company, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,500 shares of company stock worth $2,952,095. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a report on Monday, October 20th. Finally, Citigroup dropped their target price on shares of 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, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.56.

Get Our Latest Stock Analysis on PLD

Prologis Company 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.

Recommended Stories

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDFree Report).