Advisors Capital Management LLC Acquires 8,693 Shares of Prologis, Inc. $PLD

Advisors Capital Management LLC grew its position in Prologis, Inc. (NYSE:PLD) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,420 shares of the real estate investment trust’s stock after buying an additional 8,693 shares during the quarter. Advisors Capital Management LLC’s holdings in Prologis were worth $23,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. Burling Wealth Partners LLC grew its stake in Prologis by 33.0% during the 2nd quarter. Burling Wealth Partners LLC now owns 23,113 shares of the real estate investment trust’s stock worth $2,430,000 after buying an additional 5,730 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new stake in shares of Prologis in the second quarter valued at approximately $221,000. ABN Amro Investment Solutions acquired a new position in shares of Prologis during the 2nd quarter worth about $4,659,000. Cherokee Insurance Co acquired a new position in Prologis in the 2nd quarter valued at $280,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Prologis by 4.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 140,665 shares of the real estate investment trust’s stock worth $14,787,000 after purchasing an additional 6,111 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In other 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 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. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’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 sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,000 shares of company stock worth $3,013,665 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Scotiabank upped their price target on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Prologis Trading Down 0.7%

Prologis stock opened at $123.92 on Friday. The stock has a 50-day moving average price of $118.96 and a 200 day moving average price of $111.58. 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 market cap of $115.10 billion, a PE ratio of 36.13, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.43 earnings per share. Prologis’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 predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

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

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.