Prologis, Inc. $PLD Shares Sold by CNB Bank

CNB Bank lessened its stake in Prologis, Inc. (NYSE:PLD) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 875 shares of the real estate investment trust’s stock after selling 96 shares during the quarter. CNB Bank’s holdings in Prologis were worth $92,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of 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 purchasing an additional 223 shares during the period. Pandora Wealth Inc. acquired a new position in Prologis in the 1st quarter worth $34,000. GKV Capital Management Co. Inc. acquired a new position in Prologis in the 1st quarter worth $34,000. Saudi Central Bank purchased a new position in Prologis in the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Prologis during the first quarter valued at about $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were 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 $1,091,019. This represents a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s 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 approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PLD shares. Evercore ISI increased their price target on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a research note on Saturday. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target for the company in a research report on Monday, October 20th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Finally, Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.44.

Prologis Stock Performance

PLD stock opened at $126.60 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20. The stock has a market capitalization of $117.57 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 3.20 and a beta of 1.28. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.50. The stock’s fifty day moving average is $115.20 and its two-hundred day moving average is $109.13.

Prologis (NYSE:PLD) last released its quarterly earnings results 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given 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 3.2%. Prologis’s payout ratio is currently 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.