Midwest Trust Co Purchases Shares of 133,957 Prologis, Inc. $PLD

Midwest Trust Co acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 133,957 shares of the real estate investment trust’s stock, valued at approximately $14,082,000.

Other hedge funds also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. lifted its stake in Prologis by 12.3% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 6,677 shares of the real estate investment trust’s stock valued at $702,000 after purchasing an additional 733 shares during the last quarter. Rathbones Group PLC increased its holdings in shares of Prologis by 56.8% in the second quarter. Rathbones Group PLC now owns 6,446 shares of the real estate investment trust’s stock valued at $678,000 after buying an additional 2,334 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Prologis by 29.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 5,443 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 1,233 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Prologis by 6.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,428,407 shares of the real estate investment trust’s stock valued at $255,274,000 after acquiring an additional 136,649 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Prologis by 25.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,120 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 1,045 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PLD. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. UBS Group set a $137.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Truist Financial restated a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.56.

Prologis Stock Performance

Shares of PLD opened at $125.57 on Monday. The company has a market capitalization of $116.64 billion, a PE ratio of 36.61, a PEG ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The company’s 50 day moving average price is $117.94 and its 200 day moving average price is $111.07. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The company’s 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. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insiders Place Their Bets

In related news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total transaction of $61,570.00. Following the completion of the sale, the director owned 8,829 shares of the company’s stock, valued at approximately $1,087,203.06. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,000 shares of company stock valued at $3,013,665. Insiders own 0.57% of the company’s stock.

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.