Trust Co. of Vermont Buys 25,820 Shares of Prologis, Inc. (NYSE:PLD)

Trust Co. of Vermont lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 782.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,119 shares of the real estate investment trust’s stock after purchasing an additional 25,820 shares during the period. Trust Co. of Vermont’s holdings in Prologis were worth $3,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sanibel Captiva Trust Company Inc. lifted its holdings in Prologis by 6.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,902 shares of the real estate investment trust’s stock valued at $518,000 after buying an additional 278 shares during the period. Merit Financial Group LLC grew its position in Prologis by 303.9% in the fourth quarter. Merit Financial Group LLC now owns 9,851 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 7,412 shares in the last quarter. Avanza Fonder AB bought a new stake in Prologis during the 4th quarter worth about $7,510,000. Procyon Advisors LLC increased its position in shares of Prologis by 19.9% in the fourth quarter. Procyon Advisors LLC now owns 5,658 shares of the real estate investment trust’s stock valued at $598,000 after acquiring an additional 941 shares during the last quarter. Finally, Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 1.3 %

PLD stock traded down $1.42 during midday trading on Friday, hitting $109.51. The stock had a trading volume of 5,270,136 shares, compared to its average volume of 4,180,898. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The business has a 50-day moving average of $110.47 and a two-hundred day moving average of $118.31.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

PLD has been the topic of several research reports. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Raymond James reissued an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Scotiabank reduced their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

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.