First County Bank CT Acquires 1,202 Shares of Prologis, Inc. $PLD

First County Bank CT increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 42.9% in the 2nd quarter, Holdings Channel reports. The firm owned 4,007 shares of the real estate investment trust’s stock after buying an additional 1,202 shares during the period. First County Bank CT’s holdings in Prologis were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Prologis by 0.7% in 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 buying an additional 869,310 shares in the last quarter. Nuveen LLC purchased a new position in Prologis during the first quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Prologis by 0.9% during the 1st 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 purchasing an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Prologis by 13.0% in the 1st 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. grew its holdings in shares of Prologis by 7.0% in 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 purchasing an additional 507,367 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.9%

Prologis stock opened at $114.27 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day simple moving average is $110.41 and its two-hundred day simple moving average is $107.46. The company has a market cap of $106.07 billion, a PE ratio of 30.97, a PEG ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. Prologis’s dividend payout ratio is presently 109.49%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PLD shares. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Barclays reduced their price target on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Citigroup decreased their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.58.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s 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 directly owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

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.