Prologis, Inc. $PLD Shares Sold by Moran Wealth Management LLC
by Amy Steele · The Cerbat GemMoran Wealth Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 25.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,897 shares of the real estate investment trust’s stock after selling 11,685 shares during the quarter. Moran Wealth Management LLC’s holdings in Prologis were worth $3,563,000 at the end of the most recent quarter.
A number of other hedge funds have 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 worth $29,000 after purchasing an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the first quarter worth $34,000. Saudi Central Bank purchased a new position in Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC acquired a new stake in Prologis in the first quarter valued at $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.
Insider Activity
In other news, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction that occurred on 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 owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 corporate insiders.
Prologis Trading Up 6.4%
Shares of PLD opened at $122.83 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The stock has a market cap of $114.07 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 2.92 and a beta of 1.28. The firm has a 50 day simple moving average of $112.45 and a 200-day simple moving average of $107.91.
Prologis (NYSE:PLD – Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. Prologis’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. Equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.
Prologis Dividend Announcement
The company also recently announced 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 of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.3%. Prologis’s payout ratio is presently 109.49%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on PLD shares. Citigroup lowered their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.
Get Our Latest Stock Analysis on PLD
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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