UMB Bank n.a. Has $14.62 Million Stake in Prologis, Inc. (NYSE:PLD)

UMB Bank n.a. increased its stake in Prologis, Inc. (NYSE:PLD) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,771 shares of the real estate investment trust’s stock after acquiring an additional 2,733 shares during the quarter. UMB Bank n.a.’s holdings in Prologis were worth $14,620,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Swedbank AB purchased a new stake in Prologis during the first quarter worth about $596,614,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of Prologis in the 1st quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Prologis during the 2nd quarter valued at $203,223,000. Finally, Vanguard Group Inc. boosted its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.8 %

PLD traded down $0.94 during trading on Thursday, hitting $117.90. 433,085 shares of the company’s stock traded hands, compared to its average volume of 3,615,617. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $109.16 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 3.25 and a beta of 1.07. The company’s 50 day simple moving average is $125.49 and its two-hundred day simple moving average is $117.96. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. Analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

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.