Whittier Trust Co. of Nevada Inc. Sells 252 Shares of Prologis, Inc. $PLD

Whittier Trust Co. of Nevada Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,501 shares of the real estate investment trust’s stock after selling 252 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $1,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after acquiring an additional 869,310 shares during the period. Nuveen LLC bought a new stake in Prologis during the first quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. boosted its stake in Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after buying an additional 93,201 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after buying an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Prologis by 7.0% during the first quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock valued at $870,871,000 after buying an additional 507,367 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research note on Monday. Truist Financial reissued a “buy” rating and set a $131.00 price objective (up previously from $120.00) on shares of Prologis in a research note on Monday. UBS Group set a $137.00 price objective on Prologis and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.44.

Prologis Trading Down 0.1%

NYSE PLD opened at $125.91 on Thursday. The stock’s 50-day simple moving average is $114.40 and its two-hundred day simple moving average is $108.52. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.50. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $116.93 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.20 and a beta of 1.28.

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

Prologis Announces Dividend

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

Insider Activity

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 transaction, the chief accounting officer 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,500 shares of company stock worth $2,952,095. Company insiders own 0.57% of the company’s stock.

About Prologis

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.