Canandaigua National Bank & Trust Co. Buys 420 Shares of Prologis, Inc. (NYSE:PLD)

Canandaigua National Bank & Trust Co. increased its stake in Prologis, Inc. (NYSE:PLD) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,906 shares of the real estate investment trust’s stock after buying an additional 420 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Prologis were worth $1,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the 2nd quarter worth approximately $27,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Prologis during the second quarter valued at $31,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Finally, Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $48,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial dropped their price target on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Raymond James reissued an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $124.00 to $123.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

Prologis Trading Up 1.0 %

NYSE:PLD opened at $106.65 on Tuesday. The company has a market cap of $98.78 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $111.66 and a two-hundred day simple moving average of $118.64. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.