Hazelview Securities Inc. Sells 31,928 Shares of Prologis, Inc. $PLD

by · The Cerbat Gem

Hazelview Securities Inc. reduced its stake in Prologis, Inc. (NYSE:PLDFree Report) by 6.5% during the 2nd quarter, Holdings Channel reports. The fund owned 455,927 shares of the real estate investment trust’s stock after selling 31,928 shares during the period. Prologis makes up about 8.6% of Hazelview Securities Inc.’s investment portfolio, making the stock its largest position. Hazelview Securities Inc.’s holdings in Prologis were worth $48,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Activest Wealth Management grew its position in shares of 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 purchasing an additional 223 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Prologis in the 1st quarter valued at $34,000. Saudi Central Bank acquired a new position in Prologis in the 1st quarter valued at $41,000. Barrett & Company Inc. bought a new position in Prologis during the 2nd quarter worth $44,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Prologis in the second quarter valued at about $44,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a report on Monday. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday, October 20th. Finally, Wells Fargo & Company lifted their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $126.88.

Get Our Latest Stock Report on Prologis

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,621 shares of company stock worth $198,655. 0.57% of the stock is owned by company insiders.

Prologis Stock Down 0.3%

Shares of PLD opened at $130.18 on Friday. The firm has a 50 day simple moving average of $124.36 and a two-hundred day simple moving average of $114.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. Prologis, Inc. has a one year low of $85.35 and a one year high of $131.70. The company has a market cap of $120.92 billion, a P/E ratio of 37.95, a P/E/G ratio of 4.01 and a beta of 1.40.

Prologis (NYSE:PLDGet Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $1.43 EPS. 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. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is 117.78%.

About Prologis

(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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