First Bank & Trust Purchases Shares of 6,050 Prologis, Inc. (NYSE:PLD)

First Bank & Trust purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 6,050 shares of the real estate investment trust’s stock, valued at approximately $764,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 182,067.2% during the 1st 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after purchasing an additional 317,815 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Prologis by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after purchasing an additional 367,565 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Argus boosted their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Performance

Shares of Prologis stock traded down $2.85 on Friday, reaching $117.54. 3,247,349 shares of the stock were exchanged, compared to its average volume of 3,646,511. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $125.06 and a two-hundred day moving average price of $117.50. The firm has a market capitalization of $108.82 billion, a PE ratio of 34.37, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

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.