CNB Bank Has $202,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

CNB Bank lowered its stake in Prologis, Inc. (NYSE:PLD) by 8.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,602 shares of the real estate investment trust’s stock after selling 152 shares during the period. CNB Bank’s holdings in Prologis were worth $202,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. American Capital Advisory LLC bought a new stake in shares of Prologis during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth approximately $27,000. Central Valley Advisors LLC bought a new stake in Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis during the 2nd quarter worth $31,000. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLD shares. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis Price Performance

Shares of PLD stock opened at $122.50 on Friday. The business has a fifty day simple moving average of $125.43 and a 200 day simple moving average of $117.66. The company has a market cap of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 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 twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last posted 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $1.30 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. Prologis’s dividend payout ratio is currently 112.28%.

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.