First American Bank Raises Stock Position in Prologis, Inc. (NYSE:PLD)

First American Bank increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,103 shares of the real estate investment trust’s stock after purchasing an additional 604 shares during the period. First American Bank’s holdings in Prologis were worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. ASB Consultores LLC boosted its position in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the period. Principle Wealth Partners LLC boosted its holdings in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC grew its position in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares in the last quarter. Carmel Capital Partners LLC raised its stake in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the period. Finally, Berkshire Bank lifted its position in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 0.6 %

PLD opened at $122.91 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock’s 50 day moving average price is $113.87 and its 200 day moving average price is $118.05. The stock has a market cap of $113.92 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

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.