Allianz SE Sells 54,209 Shares of Prologis, Inc. $PLD

Allianz SE trimmed its stake in Prologis, Inc. (NYSE:PLD) by 49.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,777 shares of the real estate investment trust’s stock after selling 54,209 shares during the quarter. Allianz SE’s holdings in Prologis were worth $5,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Activest Wealth Management boosted its position in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank bought a new stake in Prologis during the first quarter valued at approximately $41,000. Finally, Barrett & Company Inc. bought a new position in shares of Prologis in the 2nd quarter worth $44,000. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s 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 approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by company insiders.

Prologis Price Performance

PLD stock opened at $124.87 on Thursday. The company has a fifty day simple moving average of $118.73 and a two-hundred day simple moving average of $111.49. 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, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The firm has a market capitalization of $115.98 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $1.43 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLD. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Scotiabank raised their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday. Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. UBS Group set a $133.00 target price on shares of Prologis in a report on Monday. Finally, Wells Fargo & Company upped their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $125.39.

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.