Prologis, Inc. $PLD Shares Acquired by ABC Arbitrage SA

ABC Arbitrage SA grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 126.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,982 shares of the real estate investment trust’s stock after purchasing an additional 4,462 shares during the quarter. ABC Arbitrage SA’s holdings in Prologis were worth $839,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PLD. Brighton Jones LLC raised its holdings in shares of Prologis by 629.0% during the 4th 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 during the period. CWM LLC lifted its stake in Prologis by 18.5% during the first quarter. CWM LLC now owns 27,596 shares of the real estate investment trust’s stock worth $3,085,000 after purchasing an additional 4,313 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Prologis by 36.1% during the 1st quarter. Bleakley Financial Group LLC now owns 16,615 shares of the real estate investment trust’s stock valued at $1,857,000 after acquiring an additional 4,407 shares during the period. Edgestream Partners L.P. purchased a new stake in Prologis during the 1st quarter worth approximately $302,000. Finally, Signaturefd LLC raised its stake in shares of Prologis by 11.8% in the first quarter. Signaturefd LLC now owns 13,989 shares of the real estate investment trust’s stock valued at $1,564,000 after acquiring an additional 1,471 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on PLD shares. UBS Group set a $133.00 price target on shares of Prologis in a report on Monday. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. Truist Financial reaffirmed a “buy” rating and set a $131.00 price target (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Barclays reduced their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Finally, Wells Fargo & Company upped their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the sale, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 27,000 shares of company stock worth $3,013,665. Corporate insiders own 0.57% of the company’s stock.

Prologis Price Performance

PLD stock opened at $124.87 on Thursday. The company has a market cap of $115.98 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $118.73 and a two-hundred day moving average price of $111.49. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50.

Prologis (NYSE:PLD) last released its quarterly earnings data 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. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

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

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.