Prologis, Inc. $PLD Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co trimmed its stake in Prologis, Inc. (NYSE:PLD) by 17.6% in the second quarter, Holdings Channel.com reports. The firm owned 8,949 shares of the real estate investment trust’s stock after selling 1,911 shares during the quarter. CENTRAL TRUST Co’s holdings in Prologis were worth $941,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% during the 1st 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 buying an additional 869,310 shares during the period. Nuveen LLC acquired a new position in Prologis in the first quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. increased its stake in 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 worth $1,173,340,000 after acquiring an additional 93,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 purchasing an additional 1,146,454 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock worth $870,871,000 after purchasing an additional 507,367 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho set a $118.00 target price on Prologis and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research note on Monday, October 20th. Wells Fargo & Company raised their target price on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. 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 report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Prologis Stock Performance

Shares of PLD stock opened at $124.87 on Thursday. 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 $115.98 billion, a P/E ratio of 36.40, a P/E/G ratio of 3.13 and a beta of 1.29. The company’s fifty day moving average price is $118.73 and its two-hundred day moving average price is $111.49.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.43 earnings per share. The company’s 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, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s payout ratio is currently 117.78%.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the 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 transaction, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is currently owned by corporate 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.