CENTRAL TRUST Co Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

CENTRAL TRUST Co decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,960 shares of the real estate investment trust’s stock after selling 1,603 shares during the period. CENTRAL TRUST Co’s holdings in Prologis were worth $1,889,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PLD. International Assets Investment Management LLC increased its stake in Prologis by 9,354.5% in the 3rd quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust’s stock worth $54,920,000 after acquiring an additional 430,308 shares during the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of Prologis by 6.2% in the third quarter. Sterling Investment Counsel LLC now owns 10,653 shares of the real estate investment trust’s stock valued at $1,345,000 after purchasing an additional 620 shares in the last quarter. Greenleaf Trust increased its position in Prologis by 2.5% in the third quarter. Greenleaf Trust now owns 20,464 shares of the real estate investment trust’s stock worth $2,584,000 after purchasing an additional 491 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Prologis during the third quarter valued at $357,000. Finally, Weaver Capital Management LLC lifted its position in Prologis by 59.3% during the third quarter. Weaver Capital Management LLC now owns 6,710 shares of the real estate investment trust’s stock valued at $847,000 after purchasing an additional 2,497 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of PLD stock opened at $120.39 on Friday. Prologis, Inc. has a twelve month low of $96.64 and a twelve 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 stock has a fifty day simple moving average of $125.26 and a two-hundred day simple moving average of $117.54. The stock has a market capitalization of $111.46 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Truist Financial boosted 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. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Scotiabank increased their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.47.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction 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 completion of the sale, the executive now directly 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 through this link. Insiders own 0.50% of the company’s stock.

About Prologis

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.