Community Trust & Investment Co. Acquires 153 Shares of Prologis, Inc. (NYSE:PLD)

Community Trust & Investment Co. increased its holdings in Prologis, Inc. (NYSE:PLD) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,320 shares of the real estate investment trust’s stock after acquiring an additional 153 shares during the quarter. Community Trust & Investment Co.’s holdings in Prologis were worth $8,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Maryland Capital Advisors Inc. purchased a new position in shares of Prologis during the third quarter valued at approximately $102,000. Mainsail Financial Group LLC raised its stake in Prologis by 6.7% during the third quarter. Mainsail Financial Group LLC now owns 7,145 shares of the real estate investment trust’s stock valued at $849,000 after buying an additional 448 shares during the last quarter. Segment Wealth Management LLC boosted its holdings in Prologis by 32.7% in the third quarter. Segment Wealth Management LLC now owns 5,757 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 1,418 shares in the last quarter. RBA Wealth Management LLC grew its stake in shares of Prologis by 7.9% in the third quarter. RBA Wealth Management LLC now owns 36,987 shares of the real estate investment trust’s stock worth $4,671,000 after acquiring an additional 2,713 shares during the last quarter. Finally, Eastern Bank increased its holdings in shares of Prologis by 153.0% during the third quarter. Eastern Bank now owns 371,362 shares of the real estate investment trust’s stock valued at $46,896,000 after acquiring an additional 224,579 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLD has been the topic of several analyst reports. Barclays dropped their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday. Finally, Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $131.47.

Prologis Stock Performance

Shares of PLD opened at $118.94 on Wednesday. The business has a 50-day simple moving average of $125.31 and a two-hundred day simple moving average of $117.51. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $110.12 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last released 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). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. On average, analysts expect that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s 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 transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

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.