Cape ANN Savings Bank Has $550,000 Holdings in Prologis, Inc. (NYSE:PLD)

Cape ANN Savings Bank raised its position in Prologis, Inc. (NYSE:PLD) by 59.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,353 shares of the real estate investment trust’s stock after purchasing an additional 1,618 shares during the period. Cape ANN Savings Bank’s holdings in Prologis were worth $550,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PLD. True Wealth Design LLC acquired a new stake in Prologis during the 4th quarter worth about $27,000. Optimum Investment Advisors bought a new stake in Prologis in the first quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in Prologis in the second quarter valued at approximately $27,000. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $26,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $29,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Price Performance

Prologis stock opened at $119.32 on Wednesday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company’s 50 day moving average price is $125.77 and its two-hundred day moving average price is $118.02. The stock has a market cap of $110.47 billion, a P/E ratio of 34.89, a P/E/G ratio of 3.25 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). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 earnings per share. On average, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.22%. Prologis’s payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. The Goldman Sachs Group raised their target price on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Barclays boosted their price objective on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Seven 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.35.

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.