Private Trust Co. NA Purchases 354 Shares of Prologis, Inc. (NYSE:PLD)

Private Trust Co. NA increased its holdings in Prologis, Inc. (NYSE:PLD) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,795 shares of the real estate investment trust’s stock after buying an additional 354 shares during the period. Private Trust Co. NA’s holdings in Prologis were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis in the 2nd quarter worth about $203,223,000. AMF Tjanstepension AB raised its position in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the period. Federated Hermes Inc. boosted its stake in Prologis by 326.3% in the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock valued at $208,518,000 after acquiring an additional 1,075,614 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in shares of Prologis by 3,762.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,009,261 shares of the real estate investment trust’s stock worth $113,350,000 after purchasing an additional 983,129 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Truist Financial boosted their price target 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. Finally, Scotiabank cut their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Up 1.4 %

Shares of NYSE PLD opened at $117.81 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $119.09 and a 200-day moving average of $118.61. The firm has a market capitalization of $109.11 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company earned $1.30 EPS. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Prologis Company 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.