UNIVEST FINANCIAL Corp Increases Stock Position in Prologis, Inc. $PLD

UNIVEST FINANCIAL Corp boosted its stake in Prologis, Inc. (NYSE:PLD) by 7.8% during the second quarter, HoldingsChannel reports. The firm owned 13,244 shares of the real estate investment trust’s stock after buying an additional 955 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Prologis were worth $1,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arbor Capital Management Inc. ADV raised its stake in Prologis by 8.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 13,336 shares of the real estate investment trust’s stock valued at $1,422,000 after purchasing an additional 1,076 shares in the last quarter. Strs Ohio raised its stake in Prologis by 0.7% in the second quarter. Strs Ohio now owns 885,579 shares of the real estate investment trust’s stock valued at $93,092,000 after purchasing an additional 6,177 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its stake in Prologis by 55.4% in the second quarter. Adell Harriman & Carpenter Inc. now owns 30,628 shares of the real estate investment trust’s stock valued at $3,220,000 after purchasing an additional 10,915 shares in the last quarter. Amalgamated Bank raised its stake in Prologis by 0.6% in the second quarter. Amalgamated Bank now owns 180,626 shares of the real estate investment trust’s stock valued at $18,987,000 after purchasing an additional 995 shares in the last quarter. Finally, Atria Investments Inc raised its stake in Prologis by 8.8% in the second quarter. Atria Investments Inc now owns 103,954 shares of the real estate investment trust’s stock valued at $10,928,000 after purchasing an additional 8,429 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Truist Financial reissued a “buy” rating and set a $131.00 price target (up from $120.00) on shares of Prologis in a research note on Monday, October 20th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research note on Monday, October 20th. Finally, Industrial Alliance Securities set a $119.00 price target on shares of Prologis in a research note on Monday, October 20th. Two research 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 stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $124.56.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,500 shares of company stock worth $2,952,095 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Prologis Stock Up 0.6%

Shares of Prologis stock opened at $124.25 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50. The stock has a market capitalization of $115.38 billion, a price-to-earnings ratio of 36.22, a P/E/G ratio of 3.13 and a beta of 1.28. The company’s 50 day moving average price is $116.52 and its 200-day moving average price is $109.91.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business’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. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

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.