Greenleaf Trust Has $2.58 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Greenleaf Trust raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.5% during the third quarter, HoldingsChannel.com reports. The firm owned 20,464 shares of the real estate investment trust’s stock after acquiring an additional 491 shares during the quarter. Greenleaf Trust’s holdings in Prologis were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lecap Asset Management Ltd. acquired a new position in Prologis in the third quarter valued at approximately $357,000. Weaver Capital Management LLC raised its position in shares of Prologis by 59.3% during the 3rd quarter. Weaver Capital Management LLC now owns 6,710 shares of the real estate investment trust’s stock valued at $847,000 after acquiring an additional 2,497 shares during the last quarter. Dupont Capital Management Corp lifted its stake in shares of Prologis by 12.3% in the 3rd quarter. Dupont Capital Management Corp now owns 97,360 shares of the real estate investment trust’s stock valued at $12,295,000 after purchasing an additional 10,629 shares during the period. Maryland Capital Advisors Inc. bought a new position in shares of Prologis in the 3rd quarter worth $102,000. Finally, Mainsail Financial Group LLC grew its stake in shares of Prologis by 6.7% during the third quarter. Mainsail Financial Group LLC now owns 7,145 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 448 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.6 %

NYSE:PLD opened at $120.82 on Thursday. The company has a market cap of $111.86 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The business has a 50 day moving average price of $125.26 and a two-hundred day moving average price of $117.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s payout ratio is presently 112.28%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred 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 owns 13,187 shares in the company, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLD. Morgan Stanley increased their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

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.