Zions Bancorporation N.A. Acquires 32,065 Shares of Prologis, Inc. (NYSE:PLD)

Zions Bancorporation N.A. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 185.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 49,350 shares of the real estate investment trust’s stock after purchasing an additional 32,065 shares during the period. Zions Bancorporation N.A.’s holdings in Prologis were worth $6,232,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PLD. American Capital Advisory LLC bought a new stake in Prologis in the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter worth $27,000. Central Valley Advisors LLC bought a new stake in Prologis in the second quarter worth $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 valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis in the second quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports 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 company from $124.00 to $127.00 in a research report on Monday, August 5th. Argus boosted their price objective 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. 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. Wells Fargo & Company boosted their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Eight investment 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $116.56 on Thursday. The firm has a fifty day moving average price of $121.87 and a 200-day moving average price of $117.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $107.95 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Equities analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.29%. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.