Coastline Trust Co Invests $52,000 in Prologis, Inc. (NYSE:PLD)

Coastline Trust Co acquired a new position in Prologis, Inc. (NYSE:PLD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 412 shares of the real estate investment trust’s stock, valued at approximately $52,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLD shares. Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Finally, Scotiabank cut their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Performance

Shares of NYSE:PLD opened at $113.42 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The firm’s 50 day simple moving average is $121.34 and its 200 day simple moving average is $118.05. The company has a market capitalization of $105.05 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 3.06 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio is presently 116.01%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by company 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.