US Bancorp DE Raises Holdings in Prologis, Inc. (NYSE:PLD)

US Bancorp DE increased its position in shares of Prologis, Inc. (NYSE:PLD) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 697,319 shares of the real estate investment trust’s stock after purchasing an additional 20,986 shares during the quarter. US Bancorp DE owned approximately 0.08% of Prologis worth $88,058,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PLD. American Capital Advisory LLC purchased a new stake in shares of Prologis during the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at $27,000. Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. grew its holdings in 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 buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Argus upped their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed 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, October 21st. Barclays decreased their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Scotiabank decreased their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Finally, Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. 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’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

PLD stock opened at $112.95 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $104.58 billion, a P/E ratio of 34.12, a P/E/G ratio of 3.05 and a beta of 1.07. The business’s 50-day moving average is $124.32 and its two-hundred day moving average is $117.33. Prologis, Inc. has a 1 year low of $98.82 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last posted 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 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 analyst estimates of $1.91 billion. During the same period in the prior year, the business earned $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.40%. Prologis’s payout ratio is currently 116.01%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

Prologis 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.