Westpac Banking Corp Reduces Stock Position in Prologis, Inc. $PLD

Westpac Banking Corp reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,761 shares of the real estate investment trust’s stock after selling 2,730 shares during the quarter. Westpac Banking Corp’s holdings in Prologis were worth $7,964,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PLD. Stratos Wealth Partners LTD. raised its holdings in Prologis by 0.7% in the second quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after acquiring an additional 93 shares in the last quarter. Michael S. Ryan Inc. increased its position in shares of Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its position in shares of Prologis by 3.7% during the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 96 shares during the last quarter. Van Hulzen Asset Management LLC lifted its position in shares of Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 96 shares during the last quarter. Finally, Palogic Value Management L.P. grew its stake in Prologis by 4.7% in the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the completion of the sale, the director directly owned 8,829 shares of the company’s stock, valued at $1,087,203.06. The trade was a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,000 shares of company stock worth $3,013,665 in the last ninety days. 0.57% of the stock is owned by company insiders.

Prologis Stock Down 1.0%

PLD stock opened at $122.71 on Friday. The stock has a market cap of $113.98 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The firm’s 50-day simple moving average is $119.14 and its 200 day simple moving average is $111.77. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. 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 posted its earnings results 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. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $1.43 EPS. Prologis’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. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Analyst Ratings Changes

PLD has been the subject of several research reports. Truist Financial reiterated a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prologis in a research note on Thursday. Barclays reduced their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. UBS Group set a $133.00 price target on shares of Prologis in a report on Monday, November 10th. Finally, Wells Fargo & Company increased their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

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.