PNC Financial Services Group Inc. Acquires 204,039 Shares of Prologis, Inc. $PLD

PNC Financial Services Group Inc. lifted its holdings in Prologis, Inc. (NYSE:PLD) by 38.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 734,842 shares of the real estate investment trust’s stock after purchasing an additional 204,039 shares during the period. PNC Financial Services Group Inc.’s holdings in Prologis were worth $84,154,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLD. Brighton Jones LLC boosted its stake in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Nordea Investment Management AB lifted its holdings in Prologis by 6.6% during the 2nd quarter. Nordea Investment Management AB now owns 83,647 shares of the real estate investment trust’s stock valued at $8,731,000 after buying an additional 5,187 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after buying an additional 93 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Prologis in the 2nd quarter worth about $46,118,000. Finally, Sigma Investment Counselors Inc. grew its stake in Prologis by 4.8% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 29,745 shares of the real estate investment trust’s stock worth $3,127,000 after acquiring an additional 1,349 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.9%

Shares of NYSE:PLD opened at $138.93 on Monday. The company has a market capitalization of $129.05 billion, a PE ratio of 39.13, a P/E/G ratio of 3.44 and a beta of 1.42. The company has a current ratio of 0.19, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $141.95. The business’s fifty day simple moving average is $130.47 and its 200-day simple moving average is $121.99.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.44. Prologis had a return on equity of 6.64% and a net margin of 37.86%.The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Prologis’s previous quarterly dividend of $1.01. Prologis’s payout ratio is presently 113.80%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. BTIG Research lifted their price target on shares of Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Argus lifted their target price on Prologis from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group upped their target price on Prologis from $137.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $123.00 price objective on shares of Prologis in a report on Thursday, January 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.89.

Insider Activity at Prologis

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Prologis Company Profile

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.