Jacobi Capital Management LLC Sells 99 Shares of Prologis, Inc. $PLD

Jacobi Capital Management LLC trimmed its stake in Prologis, Inc. (NYSE:PLD) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,279 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. Jacobi Capital Management LLC’s holdings in Prologis were worth $367,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PLD. Brighton Jones LLC boosted its holdings in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Prologis by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 182,861 shares of the real estate investment trust’s stock worth $19,328,000 after acquiring an additional 11,645 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Prologis in the fourth quarter worth $387,000. Royal Bank of Canada lifted its holdings in shares of Prologis by 3.3% during the fourth quarter. Royal Bank of Canada now owns 4,686,333 shares of the real estate investment trust’s stock valued at $495,347,000 after purchasing an additional 150,200 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Prologis by 8.2% during the fourth quarter. Toronto Dominion Bank now owns 498,725 shares of the real estate investment trust’s stock valued at $52,715,000 after purchasing an additional 37,661 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD opened at $115.48 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $109.18 and a two-hundred day simple moving average of $107.95. The stock has a market cap of $107.20 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.39.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $1.34 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the sale, the director 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 can be found here. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLD shares. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. UBS Group upped their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Scotiabank set a $114.00 price objective on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Citigroup reduced their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.83.

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.