Prologis, Inc. (NYSE:PLD) Shares Bought by Private Trust Co. NA

Posted by on Mar 27th, 2023

Private Trust Co. NA lifted its holdings in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,334 shares of the real estate investment trust’s stock after purchasing an additional 276 shares during the quarter. Private Trust Co. NA’s holdings in Prologis were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Management Professionals Inc. boosted its holdings in Prologis by 69.2% during the 4th quarter. Financial Management Professionals Inc. now owns 269 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 110 shares during the period. Armstrong Advisory Group Inc. purchased a new position in Prologis in the fourth quarter valued at $30,000. HHM Wealth Advisors LLC increased its holdings in shares of Prologis by 115.3% in the 3rd quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. MV Capital Management Inc. increased its stake in Prologis by 98.9% in the third quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 179 shares during the last quarter. Finally, Dakota Community Bank & Trust NA acquired a new stake in Prologis during the fourth quarter worth approximately $39,000. 75.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Prologis to $141.00 in a report on Wednesday, December 14th. BMO Capital Markets boosted their price objective on shares of Prologis from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. JPMorgan Chase & Co. cut Prologis from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $124.00 to $130.00 in a research report on Friday, December 16th. Barclays lowered their price objective on Prologis from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Tuesday, January 31st. Finally, Citigroup upped their price target on Prologis to $140.00 in a research note on Wednesday, December 14th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $144.85.

Prologis Stock Up 2.5 %

Shares of PLD stock opened at $117.03 on Monday. The stock has a market cap of $108.07 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a fifty day moving average price of $124.21 and a 200 day moving average price of $116.30. Prologis, Inc. has a one year low of $98.03 and a one year high of $174.54.

Prologis (NYSE:PLD – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 37.2% on a year-over-year basis. Analysts predict that Prologis, Inc. will post 5.52 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a dividend of $0.87 per share. This is an increase from Prologis’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, March 16th. Prologis’s dividend payout ratio (DPR) is currently 80.00%.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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