Midwest Trust Co Takes $14.08 Million Position in Prologis, Inc. $PLD

Midwest Trust Co bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 133,957 shares of the real estate investment trust’s stock, valued at approximately $14,082,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jump Financial LLC bought a new stake in shares of Prologis in the 1st quarter valued at approximately $2,120,000. Ally Financial Inc. boosted its holdings in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after purchasing an additional 4,000 shares during the period. Inspire Investing LLC increased its stake in Prologis by 9.0% during the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock valued at $10,129,000 after purchasing an additional 7,518 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Prologis during the first quarter worth $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Prologis by 14.3% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock worth $7,579,000 after purchasing an additional 8,470 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $125.57 on Monday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. The firm has a market capitalization of $116.64 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The business has a 50 day simple moving average of $117.94 and a 200 day simple moving average of $111.07.

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

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

Analyst Ratings Changes

PLD has been the subject of several research reports. UBS Group set a $137.00 price target on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, October 21st. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. 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, Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.56.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s 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 transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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 is available in the SEC filing. Insiders sold a total of 27,000 shares of company stock valued at $3,013,665 in the last quarter. 0.57% of the stock is currently owned by insiders.

Prologis 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.