Waratah Capital Advisors Ltd. Sells 79,410 Shares of Prologis, Inc. $PLD

Waratah Capital Advisors Ltd. cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 51.7% during the 2nd quarter, Holdings Channel reports. The firm owned 74,292 shares of the real estate investment trust’s stock after selling 79,410 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Prologis were worth $7,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PLD. Nuveen LLC bought a new position in Prologis during the 1st quarter worth $1,456,768,000. Price T Rowe Associates Inc. MD lifted its stake in Prologis by 13.0% in the 1st 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 purchasing an additional 1,146,454 shares during the last quarter. Strs Ohio acquired a new stake in shares of Prologis during the 1st quarter valued at $98,308,000. 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 worth $13,564,533,000 after purchasing an additional 869,310 shares during the last quarter. Finally, AMF Tjanstepension AB grew its holdings in Prologis by 18.4% during the 2nd quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock worth $362,905,000 after acquiring an additional 535,703 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis 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 sale, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 27,000 shares of company stock valued at $3,013,665. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Wells Fargo & Company upped their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Truist Financial reaffirmed a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Finally, UBS Group set a $133.00 price target on shares of Prologis in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Price Performance

Shares of NYSE PLD opened at $122.71 on Friday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a market capitalization of $113.98 billion, a PE ratio of 35.78, a PEG ratio of 3.13 and a beta of 1.29. The stock’s 50 day moving average price is $119.14 and its 200-day moving average price is $111.77. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current 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 paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.3%. Prologis’s dividend payout ratio is currently 117.78%.

About Prologis

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.