Wesbanco Bank Inc. Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Wesbanco Bank Inc. cut its position in Prologis, Inc. (NYSE:PLD) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,776 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. Wesbanco Bank Inc.’s holdings in Prologis were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PLD. Valeo Financial Advisors LLC grew its stake in shares of Prologis by 182,067.2% during the first 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 acquiring an additional 48,850,448 shares in the last quarter. Swedbank AB acquired a new stake in Prologis during the 1st quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in Prologis during the 1st quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $203,223,000. Finally, Vanguard Group Inc. boosted its stake in shares of Prologis by 1.2% during the 1st 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 buying an additional 1,460,229 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $121.39 on Wednesday. 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’s 50 day moving average is $125.27 and its 200-day moving average is $117.66. The stock has a market cap of $112.39 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $1.83 EPS. The firm’s revenue was down 18.1% on a year-over-year basis. On average, analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLD shares. Wells Fargo & Company lifted their price target on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Truist Financial lifted their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group upped their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $132.71.

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.