Whittier Trust Co. of Nevada Inc. Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Whittier Trust Co. of Nevada Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 34.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,345 shares of the real estate investment trust’s stock after purchasing an additional 5,700 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $2,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Arbor Capital Management Inc. ADV raised its position in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares during the last quarter. CX Institutional raised its holdings in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA lifted its position in shares of Prologis by 5.1% in the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 90 shares in the last quarter. Destination Wealth Management boosted its stake in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the last quarter. Finally, Tiemann Investment Advisors LLC increased its position in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $117.77 on Tuesday. The business’s fifty day moving average price is $125.39 and its 200 day moving average price is $117.56. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. 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 company has a market capitalization of $109.04 billion, a PE ratio of 34.44, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Announces Dividend

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

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Argus increased their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.