Prologis, Inc. $PLD Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,245 shares of the real estate investment trust’s stock after buying an additional 275 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Prologis were worth $3,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Alley Investment Management Company LLC grew its stake in Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock worth $12,111,000 after purchasing an additional 54,914 shares in the last quarter. Jump Financial LLC bought a new position in Prologis during the 1st quarter worth approximately $2,120,000. First Citizens Bank & Trust Co. grew its position in shares of Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Truist Financial Corp grew its position in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock worth $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Finally, Ally Financial Inc. increased its holdings in shares of Prologis by 16.7% in the 1st quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 1.3%

Prologis stock opened at $112.98 on Thursday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.65. 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 firm has a market capitalization of $104.87 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.89 and a beta of 1.26. The firm has a 50-day moving average price of $110.12 and a two-hundred day moving average price of $107.59.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis’s payout ratio is currently 109.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLD. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. UBS Group increased their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Barclays dropped their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.