Missouri Trust & Investment Co Sells 92 Shares of Prologis, Inc. (NYSE:PLD)

Posted by Defense World Staff on Sep 10th, 2023

Prologis logo Missouri Trust & Investment Co trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250 shares of the real estate investment trust’s stock after selling 92 shares during the period. Missouri Trust & Investment Co’s holdings in Prologis were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Checchi Capital Advisers LLC raised its stake in shares of Prologis by 0.5% during the first quarter. Checchi Capital Advisers LLC now owns 16,292 shares of the real estate investment trust’s stock worth $2,033,000 after buying an additional 81 shares during the last quarter. Destination Wealth Management raised its stake in shares of Prologis by 4.4% during the first quarter. Destination Wealth Management now owns 1,949 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 83 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Prologis by 2.2% during the first quarter. NorthRock Partners LLC now owns 3,969 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 84 shares during the last quarter. Strategy Asset Managers LLC grew its holdings in Prologis by 3.8% during the first quarter. Strategy Asset Managers LLC now owns 2,343 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 85 shares during the period. Finally, Cornerstone Advisory LLC grew its holdings in Prologis by 2.5% during the first quarter. Cornerstone Advisory LLC now owns 3,524 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 86 shares during the period. 90.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $128.00 price objective on shares of Prologis in a report on Thursday, July 20th. BNP Paribas upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and set a $141.00 price objective for the company in a report on Thursday, July 20th. StockNews.com assumed coverage on shares of Prologis in a report on Thursday, August 17th. They set a “hold” rating for the company. 888 restated a “maintains” rating on shares of Prologis in a report on Wednesday, June 28th. Finally, Truist Financial decreased their price objective on shares of Prologis from $140.00 to $135.00 in a report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.65.

Read Our Latest Stock Report on PLD

Insiders Place Their Bets

In other Prologis news, Director George L. Fotiades sold 10,711 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $123.98, for a total transaction of $1,327,949.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $122.48 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $123.76 and its 200-day simple moving average is $122.83. Prologis, Inc. has a 12 month low of $98.03 and a 12 month high of $136.67. The firm has a market cap of $113.15 billion, a PE ratio of 32.23, a P/E/G ratio of 2.46 and a beta of 0.98.

Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.15. Prologis had a net margin of 42.52% and a return on equity of 6.17%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. The company’s quarterly revenue was up 95.8% compared to the same quarter last year. Equities research analysts expect that Prologis, Inc. will post 5.59 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, September 15th. Prologis’s dividend payout ratio (DPR) is currently 91.58%.

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.