Washington Trust Bank Sells 639 Shares of Prologis, Inc. (NYSE:PLD)

Washington Trust Bank lessened its holdings in Prologis, Inc. (NYSE:PLD) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,940 shares of the real estate investment trust’s stock after selling 639 shares during the quarter. Washington Trust Bank’s holdings in Prologis were worth $6,054,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB raised its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after purchasing an additional 43,235 shares during the period. US Bancorp DE increased its position in Prologis by 6.5% during the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares during the period. Sunflower Bank N.A. acquired a new stake in Prologis during the 3rd quarter valued at approximately $249,000. Finally, Centersquare Investment Management LLC increased its position in Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock valued at $890,728,000 after purchasing an additional 367,565 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Argus raised 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. Finally, Barclays reduced their price objective on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.12.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 sale, the executive now directly owns 13,187 shares in the company, valued at $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 is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.2 %

NYSE:PLD traded down $0.23 during trading hours on Thursday, hitting $113.51. 50,377 shares of the company traded hands, compared to its average volume of 3,636,315. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $123.15 and its 200-day simple moving average is $117.52. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a market cap of $105.13 billion, a PE ratio of 34.36, a PEG ratio of 2.97 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $1.30 earnings per share. Prologis’s revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.