PNC Financial Services Group Inc. Sells 3,849 Shares of Prologis, Inc. $PLD

PNC Financial Services Group Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 530,803 shares of the real estate investment trust’s stock after selling 3,849 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Prologis worth $55,798,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares during the period. CWM LLC raised its holdings in Prologis by 18.5% during the first quarter. CWM LLC now owns 27,596 shares of the real estate investment trust’s stock valued at $3,085,000 after acquiring an additional 4,313 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Prologis in the first quarter valued at about $302,000. Sigma Planning Corp boosted its stake in shares of Prologis by 14.2% in the first quarter. Sigma Planning Corp now owns 10,212 shares of the real estate investment trust’s stock worth $1,142,000 after acquiring an additional 1,272 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in shares of Prologis by 52.6% in the first quarter. Wealthfront Advisers LLC now owns 72,478 shares of the real estate investment trust’s stock worth $8,102,000 after acquiring an additional 24,984 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on 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 sale, the director owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,000 shares of company stock worth $3,013,665 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research report on Monday, October 20th. UBS Group set a $133.00 target price on shares of Prologis in a report on Monday. Scotiabank raised their target price on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.39.

Prologis Price Performance

PLD stock opened at $123.92 on Friday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $118.96 and a 200 day moving average price of $111.58. The stock has a market cap of $115.10 billion, a PE ratio of 36.13, a P/E/G ratio of 3.13 and a beta of 1.29.

Prologis (NYSE:PLD) last released 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 $2.21 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. 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.