Baird Financial Group Inc. Trims Position in Prologis, Inc. $PLD

Baird Financial Group Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,390 shares of the real estate investment trust’s stock after selling 18,497 shares during the period. Baird Financial Group Inc.’s holdings in Prologis were worth $9,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Cary Street Partners Financial LLC raised its stake in shares of Prologis by 11.8% during the 1st quarter. Cary Street Partners Financial LLC now owns 1,042 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 110 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Prologis by 14.8% in the 1st quarter. Townsquare Capital LLC now owns 14,899 shares of the real estate investment trust’s stock valued at $1,666,000 after buying an additional 1,926 shares during the period. Covestor Ltd lifted its holdings in shares of Prologis by 23.9% in the 1st quarter. Covestor Ltd now owns 1,388 shares of the real estate investment trust’s stock valued at $155,000 after buying an additional 268 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in shares of Prologis by 9.9% in the first quarter. Benjamin Edwards Inc. now owns 25,094 shares of the real estate investment trust’s stock worth $2,805,000 after buying an additional 2,267 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 1,621 shares of company stock valued at $198,655 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a report on Monday, October 20th. Wells Fargo & Company boosted their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Scotiabank increased their price target on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Barclays cut 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. Finally, Truist Financial reissued a “buy” rating and set a $131.00 target price (up from $120.00) on shares of Prologis in a research note 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 stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

Prologis Price Performance

Shares of Prologis stock opened at $127.97 on Monday. The business has a 50 day simple moving average of $123.04 and a two-hundred day simple moving average of $113.91. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $130.45. The stock has a market capitalization of $118.87 billion, a P/E ratio of 37.31, a PEG ratio of 3.93 and a beta of 1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD) last issued its quarterly 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 return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The business’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. As a group, analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

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.