First National Trust Co Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

First National Trust Co increased its holdings in Prologis, Inc. (NYSE:PLD) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 41,728 shares of the real estate investment trust’s stock after buying an additional 629 shares during the period. First National Trust Co’s holdings in Prologis were worth $5,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new stake in shares of Prologis during the second quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter valued at about $29,000. Sunbelt Securities Inc. lifted its position in shares of Prologis by 640.0% during the 2nd 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 stake in shares of Prologis during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

PLD stock opened at $114.10 on Tuesday. The firm has a market cap of $105.68 billion, a P/E ratio of 34.47, a P/E/G ratio of 3.04 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock’s 50 day simple moving average is $122.42 and its 200 day simple moving average is $117.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 3.37%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PLD shares. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Scotiabank cut their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Company 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.