First Bank & Trust Makes New Investment in Prologis, Inc. (NYSE:PLD)

First Bank & Trust purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,050 shares of the real estate investment trust’s stock, valued at approximately $764,000.

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

Prologis Trading Down 2.4 %

Shares of NYSE PLD traded down $2.85 during midday trading on Friday, reaching $117.54. 3,247,349 shares of the stock were exchanged, compared to its average volume of 3,646,511. The company has a 50 day simple moving average of $125.06 and a 200 day simple moving average of $117.50. The stock has a market capitalization of $108.82 billion, a P/E ratio of 34.37, a PEG ratio of 3.05 and a beta of 1.07. 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.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLD. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley raised their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank decreased their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.12.

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.