Webster Bank N. A. Acquires 322 Shares of Prologis, Inc. (NYSE:PLD)

Webster Bank N. A. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 57.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 884 shares of the real estate investment trust’s stock after purchasing an additional 322 shares during the period. Webster Bank N. A.’s holdings in Prologis were worth $112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. Arbor Capital Management Inc. ADV increased its holdings in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the last quarter. Mitchell Sinkler & Starr PA grew its holdings in Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares in the last quarter. Destination Wealth Management grew its holdings in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares in the last quarter. CVA Family Office LLC grew its holdings in Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares in the last quarter. Finally, Tiemann Investment Advisors LLC grew its holdings in Prologis by 2.4% during the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 1.7 %

Shares of NYSE:PLD opened at $120.24 on Monday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $111.32 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.05 and a beta of 1.07. The stock’s 50-day simple moving average is $125.23 and its two-hundred day simple moving average is $117.79.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. Analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Bank of America restated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Company 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.