Envestnet Asset Management Inc. Acquires 51,940 Shares of Prologis, Inc. $PLD

Envestnet Asset Management Inc. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,518,262 shares of the real estate investment trust’s stock after purchasing an additional 51,940 shares during the period. Envestnet Asset Management Inc. owned about 0.38% of Prologis worth $369,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PLD. Activest Wealth Management grew its position in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in shares of Prologis in the 1st quarter valued at about $34,000. Saudi Central Bank bought a new position in shares of Prologis in the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC bought a new position in shares of Prologis in the 1st quarter valued at about $43,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $126.60 on Monday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. 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 firm has a 50-day moving average of $115.20 and a 200-day moving average of $109.21. The stock has a market cap of $117.57 billion, a PE ratio of 36.91, a P/E/G ratio of 3.20 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.43 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s payout ratio is 117.78%.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $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 quarter. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research report on Saturday. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a research note on Monday, October 20th. Finally, UBS Group set a $137.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.44.

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.