Prologis, Inc. (NYSE:PLD) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its position in Prologis, Inc. (NYSE:PLD) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,403 shares of the real estate investment trust’s stock after selling 995 shares during the quarter. Whittier Trust Co.’s holdings in Prologis were worth $5,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis during the second quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new stake in Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Argus upped their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Finally, Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Stock Down 3.9 %

NYSE:PLD opened at $117.77 on Tuesday. 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 company has a market capitalization of $109.04 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a 50-day simple moving average of $125.39 and a 200 day simple moving average of $117.56.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion during 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%. Prologis’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Insider Activity

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 completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.