Keybank National Association OH Sells 6,316 Shares of Prologis, Inc. $PLD

Keybank National Association OH lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.9% during the second quarter, Holdings Channel.com reports. The firm owned 64,623 shares of the real estate investment trust’s stock after selling 6,316 shares during the quarter. Keybank National Association OH’s holdings in Prologis were worth $6,793,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in Prologis by 637.1% during 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 in the last quarter. Pandora Wealth Inc. bought a new stake in Prologis during the first quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the first quarter valued at about $34,000. Saudi Central Bank bought a new stake in Prologis during the first quarter valued at about $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis during the first quarter valued at about $43,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PLD. Truist Financial reissued a “buy” rating and issued a $131.00 price target (up previously from $120.00) on shares of Prologis in a report on Monday, October 20th. Mizuho set a $118.00 price target on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wells Fargo & Company raised their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, UBS Group set a $137.00 price target on Prologis and gave the stock a “buy” rating in a report on Tuesday, October 21st. Two equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.56.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’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 transaction of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’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 sale, the director directly owned 9,329 shares in the company, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% of the company’s stock.

Prologis Trading Up 0.1%

Shares of NYSE:PLD opened at $124.31 on Friday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The stock has a market cap of $115.44 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 3.13 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $116.76 and a 200-day moving average price of $110.10.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business posted $1.43 earnings per share. The company’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. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.3%. Prologis’s 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.