Huntington National Bank Lowers Holdings in Prologis, Inc. $PLD

Huntington National Bank trimmed its position in Prologis, Inc. (NYSE:PLD) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,158 shares of the real estate investment trust’s stock after selling 9,270 shares during the period. Huntington National Bank’s holdings in Prologis were worth $21,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Prologis by 0.3% during the third quarter. Vanguard Group Inc. now owns 122,064,883 shares of the real estate investment trust’s stock worth $13,978,870,000 after buying an additional 323,551 shares in the last quarter. State Street Corp boosted its position in shares of Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after acquiring an additional 1,088,544 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock worth $2,345,922,000 after purchasing an additional 310,333 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after purchasing an additional 253,338 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Prologis in the second quarter worth approximately $1,288,936,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLD. Truist Financial dropped their target price on shares of Prologis from $142.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Evercore raised their price objective on shares of Prologis from $118.00 to $121.00 and gave the company an “in-line” rating in a research report on Thursday, January 22nd. Barclays reaffirmed an “overweight” rating and set a $139.00 price objective on shares of Prologis in a report on Tuesday, January 13th. Jefferies Financial Group increased their target price on Prologis from $146.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Freedom Capital lowered Prologis from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $136.95.

Prologis Stock Performance

Prologis stock opened at $142.44 on Friday. The firm has a fifty day simple moving average of $132.89 and a two-hundred day simple moving average of $124.20. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $143.95. The company has a market capitalization of $132.41 billion, a PE ratio of 40.12, a P/E/G ratio of 3.53 and a beta of 1.42.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 EPS for the quarter, hitting the consensus estimate of $1.44. Prologis had a return on equity of 5.79% and a net margin of 37.86%.The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $1.07 per share. This is an increase from Prologis’s previous quarterly dividend of $1.01. This represents a $4.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, March 17th. Prologis’s dividend payout ratio is presently 113.80%.

Insider Transactions at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director directly owned 8,208 shares in the company, valued at $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.