Busey Bank Has $491,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Busey Bank lifted its stake in Prologis, Inc. (NYSE:PLD) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,888 shares of the real estate investment trust’s stock after purchasing an additional 102 shares during the quarter. Busey Bank’s holdings in Prologis were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the 2nd quarter valued at $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. boosted its position in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLD shares. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Argus increased their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Down 2.4 %

Shares of PLD stock opened at $117.52 on Friday. The stock’s 50 day simple moving average is $125.17 and its 200 day simple moving average is $117.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market capitalization of $108.81 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company 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 business posted $1.30 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Prologis Company Profile

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.