HBK Sorce Advisory LLC Reduces Position in Prologis, Inc. $PLD

HBK Sorce Advisory LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 53,350 shares of the real estate investment trust’s stock after selling 167 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Prologis were worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PLD. Nuveen LLC purchased a new stake in shares of Prologis during the first quarter valued at $1,456,768,000. Valeo Financial Advisors LLC grew its holdings in shares of Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after buying an additional 1,146,454 shares during the last quarter. Strs Ohio purchased a new stake in shares of Prologis during the first quarter valued at $98,308,000. Finally, Vanguard Group Inc. grew its holdings in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’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 of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company’s stock.

Prologis Trading Down 1.9%

Shares of Prologis stock opened at $123.37 on Thursday. The firm has a 50-day simple moving average of $116.20 and a two-hundred day simple moving average of $109.81. The company has a market cap of $114.57 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two 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.

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 analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during 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 company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date 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 is 117.78%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLD shares. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Evercore ISI boosted their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Wells Fargo & Company boosted their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. 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 stock. Based on data from MarketBeat, the stock 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.