HTLF Bank Sells 963 Shares of Prologis, Inc. (NYSE:PLD)

HTLF Bank lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,717 shares of the real estate investment trust’s stock after selling 963 shares during the quarter. HTLF Bank’s holdings in Prologis were worth $2,364,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PLD. Valeo Financial Advisors LLC boosted its holdings in Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Swedbank AB bought a new position in shares of Prologis in the 1st quarter worth $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in Prologis in the 1st quarter valued at $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Prologis during the 2nd quarter valued at $203,223,000. Finally, Vanguard Group Inc. raised 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 worth $15,749,508,000 after buying an additional 1,460,229 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley boosted their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank raised their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.71.

Prologis Stock Performance

Prologis stock traded up $0.93 during trading on Tuesday, hitting $121.39. The stock had a trading volume of 5,379,595 shares, compared to its average volume of 3,623,977. The stock’s 50 day moving average is $125.26 and its two-hundred day moving average is $117.72. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market cap of $112.39 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 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 firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.16%. Prologis’s dividend payout ratio is 112.28%.

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.