First National Trust Co Increases Stock Position in Prologis, Inc. (NYSE:PLD)

First National Trust Co raised its position in Prologis, Inc. (NYSE:PLD) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Prologis in the first quarter valued at approximately $352,000. Empowered Funds LLC raised its position in Prologis by 18.6% during the first quarter. Empowered Funds LLC now owns 13,911 shares of the real estate investment trust’s stock worth $1,811,000 after acquiring an additional 2,185 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Prologis during the first quarter valued at $1,211,000. Atomi Financial Group Inc. grew its position in shares of Prologis by 25.0% in the first quarter. Atomi Financial Group Inc. now owns 2,368 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 474 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Prologis by 6.0% in the first quarter. Meeder Asset Management Inc. now owns 2,446 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 138 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays decreased their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

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

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

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.