Sigma Investment Counselors Inc. Has $3.13 Million Stock Holdings in Prologis, Inc. $PLD

Sigma Investment Counselors Inc. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 29,745 shares of the real estate investment trust’s stock after acquiring an additional 1,349 shares during the period. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,127,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Prologis in the second quarter worth about $46,118,000. Nicholson Wealth Management Group LLC grew its stake in shares of Prologis by 9.1% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $1,474,000 after purchasing an additional 1,170 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in shares of Prologis by 0.8% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 490,681 shares of the real estate investment trust’s stock valued at $51,580,000 after purchasing an additional 3,838 shares during the period. Easterly Investment Partners LLC raised its holdings in shares of Prologis by 123.3% in the 2nd quarter. Easterly Investment Partners LLC now owns 156,558 shares of the real estate investment trust’s stock worth $16,457,000 after buying an additional 86,454 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock worth $1,438,000 after buying an additional 93 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.74.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction 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 transaction, the director directly 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. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Prologis Price Performance

Shares of PLD stock opened at $124.27 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $125.04. The stock has a market capitalization of $115.40 billion, a PE ratio of 36.23, a PEG ratio of 3.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. The stock’s fifty day moving average is $113.12 and its 200-day moving average is $108.03.

Prologis (NYSE:PLD) 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, topping the consensus estimate of $1.44 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.3%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Prologis 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.