Equitable Trust Co. Has $856,000 Stock Holdings in Prologis, Inc. $PLD

Equitable Trust Co. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 5.0% during the second quarter, HoldingsChannel.com reports. The firm owned 8,145 shares of the real estate investment trust’s stock after selling 433 shares during the period. Equitable Trust Co.’s holdings in Prologis were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PLD. Vanguard Group Inc. raised its position in shares of Prologis by 0.7% during 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 last quarter. Nuveen LLC bought a new position in shares of Prologis during the first quarter worth about $1,456,768,000. Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $1,173,340,000 after acquiring an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $1,113,994,000 after acquiring an additional 1,146,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 worth $870,871,000 after acquiring an additional 507,367 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLD shares. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Scotiabank set a $114.00 price target on Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Stock Performance

NYSE:PLD opened at $115.44 on Wednesday. The firm has a market capitalization of $107.20 billion, a P/E ratio of 31.28, a P/E/G ratio of 2.85 and a beta of 1.28. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a fifty day moving average of $112.11 and a 200-day moving average of $107.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis’s payout ratio is currently 109.49%.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares in the company, valued at $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock valued at $2,952,095. Corporate insiders own 0.57% of the company’s stock.

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.