Cerity Partners LLC Sells 5,610 Shares of Prologis, Inc. $PLD

Cerity Partners LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197,061 shares of the real estate investment trust’s stock after selling 5,610 shares during the quarter. Cerity Partners LLC’s holdings in Prologis were worth $20,715,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Prologis during the 2nd quarter valued at about $1,288,936,000. Franklin Resources Inc. increased its holdings in shares of Prologis by 216.0% during the second quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock valued at $1,056,545,000 after acquiring an additional 6,870,479 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Strs Ohio acquired a new stake in Prologis in the 1st quarter worth approximately $98,308,000. Finally, Amundi boosted its stake in Prologis by 17.0% in the 2nd quarter. Amundi now owns 4,630,744 shares of the real estate investment trust’s stock worth $501,556,000 after purchasing an additional 673,861 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLD shares. Barclays lowered their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Evercore ISI upped their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. UBS Group set a $138.00 price target on shares of Prologis in a research report on Thursday, December 4th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a report on Monday, October 20th. Finally, Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.78.

Prologis Trading Up 0.6%

PLD stock opened at $127.45 on Wednesday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $130.45. The business’s 50-day moving average is $123.55 and its 200 day moving average is $114.23. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $118.39 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 3.89 and a beta of 1.39.

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 business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,621 shares of company stock valued at $198,655 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

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.