Adell Harriman & Carpenter Inc. Raises Stake in Prologis, Inc. $PLD

Adell Harriman & Carpenter Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 55.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,628 shares of the real estate investment trust’s stock after buying an additional 10,915 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Prologis were worth $3,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Prologis by 637.1% during 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 period. Pandora Wealth Inc. purchased a new stake in shares of Prologis during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis during the first quarter valued at approximately $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the first quarter valued at approximately $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Prologis during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $123.37 on Thursday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65. The business has a fifty day moving average price of $116.20 and a 200-day moving average price of $109.81. The company has a market capitalization of $114.57 billion, a PE ratio of 35.97, a PEG ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 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 $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $1.43 earnings per share. Prologis’s revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts expect 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. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,500 shares of company stock worth $2,952,095 over the last three months. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Evercore ISI increased their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research note 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 for the company in a research note on Monday, October 20th. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Finally, Citigroup decreased their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $124.56.

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.