Perkins Coie Trust Co Acquires 106 Shares of Prologis, Inc. (NYSE:PLD)

Perkins Coie Trust Co grew its holdings in Prologis, Inc. (NYSE:PLD) by 4.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,283 shares of the real estate investment trust’s stock after purchasing an additional 106 shares during the quarter. Perkins Coie Trust Co’s holdings in Prologis were worth $288,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLD. Optimum Investment Advisors bought a new stake in Prologis in the first quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in Prologis in the second quarter worth approximately $26,000. True Wealth Design LLC bought a new stake in Prologis in the fourth quarter worth approximately $27,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter worth approximately $27,000. Finally, Central Valley Advisors LLC bought a new stake in Prologis in the second quarter worth approximately $29,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of PLD stock traded down $0.33 during mid-day trading on Wednesday, reaching $119.01. The company’s stock had a trading volume of 174,490 shares, compared to its average volume of 3,614,219. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap of $110.18 billion, a P/E ratio of 34.89, a PEG ratio of 3.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50-day moving average is $125.64 and its two-hundred day moving average is $117.95.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Evercore ISI boosted their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Barclays boosted their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

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.