Trust Co. of Vermont Buys 3,112 Shares of Prologis, Inc. (NYSE:PLD)

Trust Co. of Vermont raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 1,664.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,299 shares of the real estate investment trust’s stock after purchasing an additional 3,112 shares during the period. Trust Co. of Vermont’s holdings in Prologis were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLD. Arbor Capital Management Inc. ADV raised its holdings in Prologis by 0.8% in the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the period. CX Institutional increased its stake in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the period. Mitchell Sinkler & Starr PA lifted its position in shares of Prologis by 5.1% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the last quarter. Destination Wealth Management boosted its stake in Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 92 shares during the period. Finally, Tiemann Investment Advisors LLC grew its holdings in Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 100 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction 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 completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank raised their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. The Goldman Sachs Group upped their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.71.

Prologis Stock Performance

Prologis stock opened at $122.50 on Friday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. 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 stock has a fifty day moving average price of $125.43 and a two-hundred day moving average price of $117.72. The firm has a market capitalization of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last announced its 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). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. As a group, analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is currently 112.28%.

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.