BankPlus Trust Department Sells 475 Shares of Prologis, Inc. $PLD

BankPlus Trust Department reduced its position in Prologis, Inc. (NYSE:PLD) by 5.2% in the second quarter, Holdings Channel.com reports. The fund owned 8,703 shares of the real estate investment trust’s stock after selling 475 shares during the quarter. BankPlus Trust Department’s holdings in Prologis were worth $915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Activest Wealth Management raised its stake in shares of Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares in the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis in the first quarter worth $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the first quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis in the first quarter worth $43,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction 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 owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $2,952,095 in the last quarter. 0.57% of the stock is owned by company insiders.

Prologis Stock Down 1.0%

PLD stock opened at $115.95 on Wednesday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $127.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a market cap of $107.63 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28. The business has a 50 day moving average of $111.36 and a 200 day moving average of $107.68.

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

Prologis Dividend Announcement

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

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Saturday, September 27th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI boosted their price objective on shares of Prologis from $111.00 to $113.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.58.

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.