Key Financial Inc Trims Stake in Prologis, Inc. $PLD

Key Financial Inc cut its stake in Prologis, Inc. (NYSE:PLD) by 55.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 415 shares of the real estate investment trust’s stock after selling 515 shares during the quarter. Key Financial Inc’s holdings in Prologis were worth $44,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fullcircle Wealth LLC increased its holdings in shares of Prologis by 2.6% during the 2nd quarter. Fullcircle Wealth LLC now owns 12,176 shares of the real estate investment trust’s stock valued at $1,281,000 after purchasing an additional 307 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC increased its holdings in Prologis by 5.5% in the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 2,912 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 152 shares in the last quarter. Torray Investment Partners LLC raised its position in shares of Prologis by 218.9% in the second quarter. Torray Investment Partners LLC now owns 139,500 shares of the real estate investment trust’s stock worth $14,664,000 after acquiring an additional 95,760 shares during the period. Telos Capital Management Inc. raised its position in shares of Prologis by 61.7% in the second quarter. Telos Capital Management Inc. now owns 14,653 shares of the real estate investment trust’s stock worth $1,540,000 after acquiring an additional 5,593 shares during the period. Finally, State of Michigan Retirement System raised its position in shares of Prologis by 0.3% in the second quarter. State of Michigan Retirement System now owns 252,267 shares of the real estate investment trust’s stock worth $26,518,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research report on Monday, October 20th. Wells Fargo & Company boosted their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Finally, Citigroup cut their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $124.56.

Prologis Stock Performance

PLD opened at $123.99 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market cap of $115.17 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 3.13 and a beta of 1.28. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The firm’s fifty day simple moving average is $117.26 and its two-hundred day simple moving average is $110.56.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed 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. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares in the company, valued at approximately $1,087,203.06. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the 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 sale, the chief accounting officer 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is owned by insiders.

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.