First National Trust Co Has $2.92 Million Holdings in Prologis, Inc. $PLD

First National Trust Co cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 27,804 shares of the real estate investment trust’s stock after selling 385 shares during the quarter. First National Trust Co’s holdings in Prologis were worth $2,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Prologis by 20.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 166,136 shares of the real estate investment trust’s stock valued at $17,464,000 after buying an additional 28,300 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Prologis by 1.5% in the second quarter. Envestnet Asset Management Inc. now owns 3,518,262 shares of the real estate investment trust’s stock valued at $369,840,000 after buying an additional 51,940 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of Prologis by 0.9% in the second quarter. Chilton Capital Management LLC now owns 191,613 shares of the real estate investment trust’s stock valued at $20,142,000 after buying an additional 1,689 shares in the last quarter. Hixon Zuercher LLC raised its position in shares of Prologis by 2.8% in the second quarter. Hixon Zuercher LLC now owns 19,916 shares of the real estate investment trust’s stock valued at $2,094,000 after buying an additional 546 shares in the last quarter. Finally, New Hampshire Trust raised its position in shares of Prologis by 12.6% in the second quarter. New Hampshire Trust now owns 4,906 shares of the real estate investment trust’s stock valued at $516,000 after buying an additional 550 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $125.80 on Wednesday. The firm’s fifty day moving average price is $115.93 and its two-hundred day moving average price is $109.62. The stock has a market cap of $116.82 billion, a PE ratio of 36.68, a PEG ratio of 3.22 and a beta of 1.28. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.20.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

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

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 26,500 shares of company stock worth $2,952,095. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PLD shares. Evercore ISI lifted their price target on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research report on Thursday, October 16th. Truist Financial reiterated a “buy” rating and issued a $131.00 price target (up from $120.00) on shares of Prologis in a research report on Monday, October 20th. Barclays decreased their price objective on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.56.

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.