Prologis, Inc. $PLD Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in Prologis, Inc. (NYSE:PLD) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,295 shares of the real estate investment trust’s stock after selling 1,463 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Prologis were worth $6,535,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Activest Wealth Management grew 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 valued at $29,000 after purchasing an additional 223 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Prologis during the first quarter valued at about $34,000. Pandora Wealth Inc. bought a new stake in shares of Prologis during the 1st quarter worth about $34,000. Saudi Central Bank acquired a new position in shares of Prologis during the 1st quarter valued at about $41,000. Finally, Barrett & Company Inc. acquired a new stake in Prologis in the 2nd quarter worth approximately $44,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’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 transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction 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 directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. 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 quarter. Corporate insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $122.71 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $113.98 billion, a price-to-earnings ratio of 35.78, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The stock has a 50-day simple moving average of $119.14 and a 200 day simple moving average of $111.77.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued 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 currently 117.78%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLD. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, September 15th. Truist Financial reiterated a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. UBS Group set a $133.00 price target on Prologis in a report on Monday, November 10th. Evercore ISI raised their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Finally, Citigroup decreased their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.39.

Prologis 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.