Prologis, Inc. $PLD Stock Position Lowered by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 24.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,706 shares of the real estate investment trust’s stock after selling 7,474 shares during the period. First Citizens Bank & Trust Co.’s holdings in Prologis were worth $2,492,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. purchased a new position in shares of Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the first quarter valued at $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis during the first quarter valued at $43,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLD has been the topic of a number of research analyst reports. Industrial Alliance Securities set a $119.00 price target on Prologis in a report on Monday. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Mizuho set a $118.00 price target on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $124.44.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $125.93 on Friday. The business’s 50-day moving average price is $114.80 and its two-hundred day moving average price is $108.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The company has a market capitalization of $116.95 billion, a P/E ratio of 36.71, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s payout ratio is 117.78%.

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.