Moody National Bank Trust Division Sells 331 Shares of Prologis, Inc. (NYSE:PLD)

Moody National Bank Trust Division cut its stake in Prologis, Inc. (NYSE:PLD) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,656 shares of the real estate investment trust’s stock after selling 331 shares during the quarter. Prologis accounts for 0.3% of Moody National Bank Trust Division’s holdings, making the stock its 27th biggest position. Moody National Bank Trust Division’s holdings in Prologis were worth $20,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $26,000. Strategic Blueprint LLC acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $30,000. Meridian Wealth Partners LLC grew its position in shares of Prologis by 70.3% in the 1st quarter. Meridian Wealth Partners LLC now owns 441 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 182 shares during the period. Albion Financial Group UT acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $48,000. Finally, Tompkins Financial Corp grew its position in shares of Prologis by 1,592.9% in the 1st quarter. Tompkins Financial Corp now owns 474 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 446 shares during the period. 92.23% of the stock is owned by institutional investors.

Shares of Prologis stock opened at $149.47 on Wednesday. Prologis, Inc. has a 12-month low of $93.08 and a 12-month high of $150.93. The stock has a market cap of $110.51 billion, a P/E ratio of 56.40, a P/E/G ratio of 4.58 and a beta of 0.78. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $137.29 and its 200-day moving average is $129.14.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). Prologis had a return on equity of 5.42% and a net margin of 42.95%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that Prologis, Inc. will post 4.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Friday, September 17th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 95.09%.

Several equities analysts recently issued reports on the company. Raymond James boosted their price objective on Prologis from $143.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 20th. Truist upped their price target on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Barclays upped their price target on Prologis from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 19th. BMO Capital Markets upped their price target on Prologis from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 26th. Finally, Royal Bank of Canada upped their price target on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has an average rating of “Buy” and an average target price of $146.47.

In related news, Director William D. Zollars sold 1,380 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $146.20, for a total value of $201,756.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Irving F. Lyons III sold 24,000 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $133.53, for a total value of $3,204,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 345,380 shares of company stock worth $49,569,018. 0.87% of the stock is owned by company insiders.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

Recommended Story: Pattern Day Trader

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.