Sunflower Bank N.A. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Sunflower Bank N.A. purchased a new stake in Prologis, Inc. (NYSE:PLD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,968 shares of the real estate investment trust’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares during the period. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Prologis by 2.5% in 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 buying an additional 317,815 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Prologis by 1.4% during the second 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 buying an additional 167,131 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after acquiring an additional 367,565 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PLD shares. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Argus boosted their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI raised their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial boosted their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.71.

Prologis Price Performance

Shares of PLD traded up $1.96 during mid-day trading on Friday, hitting $120.24. 2,711,999 shares of the company traded hands, compared to its average volume of 3,623,040. 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 50-day moving average of $125.23 and a 200 day moving average of $117.86. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market capitalization of $111.33 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. As a group, equities analysts expect that Prologis, Inc. will post 5.42 earnings per share 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 given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 126.73%.

Insider Buying and Selling 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 stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly 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 legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.