CENTRAL TRUST Co Cuts Holdings in Prologis, Inc. $PLD

CENTRAL TRUST Co reduced its holdings in Prologis, Inc. (NYSE:PLD) by 17.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,949 shares of the real estate investment trust’s stock after selling 1,911 shares during the quarter. CENTRAL TRUST Co’s holdings in Prologis were worth $941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Activest Wealth Management lifted its holdings in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. purchased a new position in shares of Prologis in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis in the first quarter valued at about $34,000. Saudi Central Bank purchased a new stake in Prologis during the first quarter worth about $41,000. Finally, Barrett & Company Inc. acquired a new position in Prologis during the second quarter worth about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research report on Monday, October 20th. UBS Group set a $133.00 price target on Prologis in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Two investment 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 stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $125.39.

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $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. Insiders have sold 27,000 shares of company stock worth $3,013,665 in the last three months. Insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $124.87 on Thursday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The company has a market capitalization of $115.98 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.13 and a beta of 1.29. The stock has a fifty day moving average of $118.73 and a two-hundred day moving average of $111.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, analysts anticipate 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 paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

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.