Prologis (NYSE:PLD) Director James Connor Sells 80,000 Shares

Prologis, Inc. (NYSE:PLD) Director James Connor sold 80,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prologis Trading Up 0.6%

Shares of PLD traded up $0.74 on Monday, reaching $129.79. 3,265,267 shares of the company’s stock were exchanged, compared to its average volume of 3,222,532. The business has a 50 day moving average price of $126.81 and a two-hundred day moving average price of $116.88. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70. The stock has a market capitalization of $120.56 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 3.78 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The firm had revenue of $2.21 billion for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio is presently 117.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in Prologis by 0.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 16,583 shares of the real estate investment trust’s stock worth $1,941,000 after purchasing an additional 82 shares during the period. Foster Dykema Cabot & Partners LLC lifted its holdings in Prologis by 1.0% during the 3rd quarter. Foster Dykema Cabot & Partners LLC now owns 8,232 shares of the real estate investment trust’s stock valued at $943,000 after purchasing an additional 83 shares during the last quarter. Cornerstone Advisory LLC boosted its position in Prologis by 2.4% during the third quarter. Cornerstone Advisory LLC now owns 3,535 shares of the real estate investment trust’s stock worth $405,000 after purchasing an additional 84 shares during the period. Cadence Bank lifted its stake in shares of Prologis by 2.1% during the 3rd quarter. Cadence Bank now owns 4,209 shares of the real estate investment trust’s stock worth $482,000 after buying an additional 87 shares during the last quarter. Finally, Clear Investment Research LLC lifted its stake in shares of Prologis by 34.5% during the 3rd quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. Truist Financial reaffirmed a “buy” rating and issued a $131.00 price target (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. Evercore ISI increased their target price on shares of Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Wells Fargo & Company lifted their price target on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Mizuho upped their price objective on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.24.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.