AlphaCore Capital LLC Purchases New Stake in Prologis, Inc. $PLD

AlphaCore Capital LLC acquired a new position in Prologis, Inc. (NYSE:PLD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,074 shares of the real estate investment trust’s stock, valued at approximately $113,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Jump Financial LLC bought a new position in shares of Prologis in the 1st quarter worth $2,120,000. Ally Financial Inc. lifted its stake in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after buying an additional 4,000 shares during the period. Inspire Investing LLC lifted its stake in Prologis by 9.0% in the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after buying an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Prologis during the first quarter worth about $21,792,000. Finally, Coordinated Financial Services Inc. acquired a new position in shares of Prologis during the 2nd quarter worth about $389,000. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 0.7%

PLD opened at $127.34 on Wednesday. The stock has a market capitalization of $118.29 billion, a P/E ratio of 37.13, a P/E/G 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. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $128.44. The firm’s fifty day simple moving average is $120.70 and its 200 day simple moving average is $112.80.

Prologis (NYSE:PLD) last released 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. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

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

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the sale, the director owned 8,829 shares in the company, valued at approximately $1,087,203.06. The trade was a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 2,000 shares of company stock valued at $230,415. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price for the company in a research note on Monday, October 20th. UBS Group set a $133.00 target price on shares of Prologis in a report on Monday, November 10th. Finally, Truist Financial reissued a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.