Waterloo Capital L.P. Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

Waterloo Capital L.P. lessened its stake in Prologis, Inc. (NYSE:PLD) by 41.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,308 shares of the real estate investment trust’s stock after selling 1,640 shares during the period. Waterloo Capital L.P.’s holdings in Prologis were worth $259,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLD. Nordea Investment Management AB lifted its position in Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Swedbank AB raised its holdings in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the period. Atalanta Sosnoff Capital LLC bought a new stake in Prologis in the 4th quarter worth $18,551,000. Finally, US Bancorp DE increased its position in shares of Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after acquiring an additional 41,469 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent analyst reports. Barclays raised their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Prologis Stock Performance

Prologis stock opened at $128.51 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $118.98 billion, a P/E ratio of 37.58, a PEG ratio of 3.36 and a beta of 1.07. The stock’s 50 day moving average is $125.38 and its 200 day moving average is $118.80.

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

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.99%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.