Prologis, Inc. (NYSE:PLD) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 27,100.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,616 shares of the real estate investment trust’s stock after buying an additional 7,588 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Prologis were worth $855,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC raised its position in shares of Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Capital World Investors raised its holdings in Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the period. Swedbank AB purchased a new stake in Prologis during the first quarter valued at about $596,614,000. Alphinity Investment Management Pty Ltd acquired a new position in shares of Prologis in the first quarter worth about $465,659,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Prologis in the second quarter worth about $203,223,000. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Performance

PLD opened at $126.63 on Tuesday. The stock has a 50-day moving average of $125.59 and a 200-day moving average of $118.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market cap of $117.24 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company earned $1.83 EPS. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Barclays raised their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group raised their price objective on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.35.

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.