Whittier Trust Co. of Nevada Inc. Sells 252 Shares of Prologis, Inc. $PLD

Whittier Trust Co. of Nevada Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,501 shares of the real estate investment trust’s stock after selling 252 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Prologis were worth $1,735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alley Investment Management Company LLC boosted its holdings in Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock worth $12,111,000 after acquiring an additional 54,914 shares in the last quarter. Jump Financial LLC bought a new position in Prologis in the first quarter worth approximately $2,120,000. Truist Financial Corp boosted its holdings in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock worth $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Ally Financial Inc. boosted its holdings in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock worth $33,249,000 after purchasing an additional 6,350 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director directly owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $2,952,095 over the last three months. Company insiders own 0.57% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $125.91 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $116.93 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.20 and a beta of 1.28. The stock has a 50 day moving average of $114.40 and a 200 day moving average of $108.52. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $1.43 earnings per share. Prologis’s revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Analyst Ratings Changes

Several analysts have recently commented on PLD shares. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research note on Monday. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Industrial Alliance Securities set a $119.00 price objective on Prologis in a research note on Monday. Finally, Citigroup lowered their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.44.

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.