Abundance Wealth Counselors Purchases 526 Shares of Prologis, Inc. $PLD

Abundance Wealth Counselors grew its position in shares of Prologis, Inc. (NYSE:PLD) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,224 shares of the real estate investment trust’s stock after purchasing an additional 526 shares during the period. Abundance Wealth Counselors’ holdings in Prologis were worth $1,811,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Brighton Jones LLC lifted its stake in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after purchasing an additional 15,078 shares during the last quarter. NBC Securities Inc. lifted its stake in Prologis by 123,350.0% during the first quarter. NBC Securities Inc. now owns 2,469 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 2,467 shares during the last quarter. Merit Financial Group LLC lifted its stake in Prologis by 37.4% during the first quarter. Merit Financial Group LLC now owns 13,538 shares of the real estate investment trust’s stock worth $1,513,000 after purchasing an additional 3,687 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Prologis by 37.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,881 shares of the real estate investment trust’s stock worth $1,328,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Grassi Investment Management lifted its stake in Prologis by 0.7% during the first quarter. Grassi Investment Management now owns 256,075 shares of the real estate investment trust’s stock worth $28,627,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated 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 $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. In 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 company insiders.

Prologis Stock Down 0.2%

Shares of NYSE:PLD opened at $116.22 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65. The company has a market cap of $107.88 billion, a PE ratio of 31.49, a P/E/G ratio of 2.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50-day moving average is $110.90 and its 200 day moving average is $107.59.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business earned $1.34 EPS. Prologis’s revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared 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 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Scotiabank set a $114.00 target price on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Evercore ISI boosted their target price on Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

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.