Sound Income Strategies LLC Trims Position in Prologis, Inc. $PLD

Sound Income Strategies LLC cut its position in Prologis, Inc. (NYSE:PLD) by 42.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365 shares of the real estate investment trust’s stock after selling 266 shares during the period. Sound Income Strategies LLC’s holdings in Prologis were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new position in Prologis during the first quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. grew its stake in Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Prologis by 13.0% during the first 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 acquiring an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock valued at $870,871,000 after acquiring an additional 507,367 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE:PLD opened at $116.47 on Thursday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The stock has a market capitalization of $108.11 billion, a P/E ratio of 31.56, a PEG ratio of 2.89 and a beta of 1.28. The firm has a fifty day simple moving average of $110.77 and a two-hundred day simple moving average of $107.58. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $1.34 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLD shares. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Scotiabank set a $114.00 target price on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Evercore ISI raised their target price on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Barclays dropped their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.58.

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.