Allianz SE Cuts Stock Holdings in Prologis, Inc. $PLD

Allianz SE lowered its position in Prologis, Inc. (NYSE:PLD) by 49.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,777 shares of the real estate investment trust’s stock after selling 54,209 shares during the period. Allianz SE’s holdings in Prologis were worth $5,758,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Prologis by 629.0% in 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 in the last quarter. CWM LLC boosted its stake in Prologis by 18.5% during the first quarter. CWM LLC now owns 27,596 shares of the real estate investment trust’s stock worth $3,085,000 after buying an additional 4,313 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Prologis by 36.1% in the 1st quarter. Bleakley Financial Group LLC now owns 16,615 shares of the real estate investment trust’s stock valued at $1,857,000 after buying an additional 4,407 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Prologis in the 1st quarter valued at $302,000. Finally, Signaturefd LLC increased its stake in shares of Prologis by 11.8% in the 1st quarter. Signaturefd LLC now owns 13,989 shares of the real estate investment trust’s stock worth $1,564,000 after acquiring an additional 1,471 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. UBS Group set a $133.00 price target on shares of Prologis in a research report on Monday. Evercore ISI upped their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a report on Thursday, October 16th. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Scotiabank boosted their target price on Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research report on Monday. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.39.

Prologis Stock Down 1.1%

Shares of Prologis stock opened at $124.87 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The company has a market capitalization of $115.98 billion, a P/E ratio of 36.40, a P/E/G ratio of 3.13 and a beta of 1.29. The company has a 50 day moving average of $118.73 and a 200 day moving average of $111.49.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion for 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 was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were 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 was Tuesday, September 16th. Prologis’s payout ratio is currently 117.78%.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,000 shares of company stock valued at $3,013,665. Company insiders own 0.57% of the company’s stock.

About Prologis

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.