SG Americas Securities LLC Reduces Stake in Prologis, Inc. $PLD

SG Americas Securities LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 98.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,644 shares of the real estate investment trust’s stock after selling 1,415,129 shares during the quarter. SG Americas Securities LLC’s holdings in Prologis were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PLD. Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% during the 1st 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 purchasing an additional 869,310 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Prologis by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after buying an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after buying an additional 253,338 shares during the period. Nuveen LLC purchased a new stake in Prologis during the first quarter valued at approximately $1,456,768,000. Finally, Charles Schwab Investment Management Inc. raised its position in Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock worth $1,173,340,000 after acquiring an additional 93,201 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $122.46 on Thursday. The stock has a 50-day moving average price of $119.81 and a 200 day moving average price of $112.18. The stock has a market capitalization of $113.75 billion, a P/E ratio of 35.70, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm earned $1.43 EPS. The firm’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. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is currently 117.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. UBS Group set a $133.00 price objective on Prologis in a research note on Monday, November 10th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Truist Financial reissued a “buy” rating and issued a $131.00 target price (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $123.14, for a total value of $61,570.00. Following the transaction, the director owned 8,829 shares of the company’s stock, valued at $1,087,203.06. This represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,000 shares of company stock worth $3,013,665. Corporate insiders own 0.57% of the company’s stock.

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.