Prologis, Inc. (NYSE:PLD) Stock Holdings Lifted by Perkins Coie Trust Co

Perkins Coie Trust Co lifted its holdings in Prologis, Inc. (NYSE:PLD) by 4.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,283 shares of the real estate investment trust’s stock after buying an additional 106 shares during the quarter. Perkins Coie Trust Co’s holdings in Prologis were worth $288,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PLD. Optimum Investment Advisors bought a new position in shares of Prologis in the 1st quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in shares of Prologis in the 2nd quarter worth about $26,000. True Wealth Design LLC acquired a new stake in shares of Prologis in the 4th quarter worth about $27,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the 2nd quarter worth about $27,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of Prologis in the 2nd quarter worth about $29,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Barclays raised their target price on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Trading Down 0.3 %

Shares of Prologis stock traded down $0.33 during trading on Wednesday, hitting $119.01. The stock had a trading volume of 174,490 shares, compared to its average volume of 3,614,219. The stock has a 50 day simple moving average of $125.64 and a 200 day simple moving average of $117.95. The company has a market capitalization of $110.18 billion, a PE 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, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last released 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). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. On average, research analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed 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. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

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.