Bank of Jackson Hole Trust Buys 443 Shares of Prologis, Inc. $PLD

Bank of Jackson Hole Trust raised its stake in Prologis, Inc. (NYSE:PLD) by 20.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,644 shares of the real estate investment trust’s stock after purchasing an additional 443 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Prologis were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 valued at $13,564,533,000 after acquiring an additional 869,310 shares in the last quarter. Nuveen LLC bought a new position in shares of Prologis during the first quarter valued at approximately $1,456,768,000. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $1,173,340,000 after acquiring an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $1,113,994,000 after acquiring an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings 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 valued at $870,871,000 after acquiring an additional 507,367 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 414 shares in the company, 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 stock in a transaction dated 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 directly owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a report on Tuesday, August 19th. Industrial Alliance Securities set a $119.00 target price on Prologis in a report on Monday, October 20th. Wells Fargo & Company upped their target price on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their target price for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.56.

Prologis Price Performance

PLD opened at $125.80 on Wednesday. The stock has a fifty day simple moving average of $115.93 and a two-hundred day simple moving average of $109.62. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The company has a market cap of $116.82 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 3.22 and a beta of 1.28. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during 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 firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend 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.