Washington Trust Bank Raises Position in Prologis, Inc. $PLD

Washington Trust Bank raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,157 shares of the real estate investment trust’s stock after purchasing an additional 5,730 shares during the period. Washington Trust Bank’s holdings in Prologis were worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Nuveen LLC purchased a new stake in Prologis during the first quarter valued at approximately $1,456,768,000. Price T Rowe Associates Inc. MD grew its stake in shares of Prologis by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after buying an additional 1,146,454 shares during the last quarter. Strs Ohio bought a new position in shares of Prologis during the first quarter valued at approximately $98,308,000. Vanguard Group Inc. grew its stake in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Prologis by 18.4% during the second quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock valued at $362,905,000 after buying an additional 535,703 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were 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 in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were 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 of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 27,000 shares of company stock valued at $3,013,665 in the last 90 days. 0.57% of the stock is currently owned by insiders.

Prologis Stock Performance

NYSE:PLD opened at $123.82 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $117.48 and a two-hundred day simple moving average of $110.65. The company has a market cap of $115.01 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share 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 $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Prologis’s dividend payout ratio is currently 117.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI upped their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Citigroup dropped their target price on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. UBS Group set a $137.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $124.56.

Prologis 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.