Prologis, Inc. $PLD Holdings Cut by Renasant Bank

Renasant Bank reduced its stake in Prologis, Inc. (NYSE:PLD) by 51.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,968 shares of the real estate investment trust’s stock after selling 2,081 shares during the period. Renasant Bank’s holdings in Prologis were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nuveen LLC acquired a new position in Prologis during the 1st quarter valued at approximately $1,456,768,000. Price T Rowe Associates Inc. MD boosted its stake in Prologis by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares during the period. Strs Ohio bought a new position in Prologis in the 1st quarter worth about $98,308,000. Vanguard Group Inc. grew its position in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in shares of Prologis by 18.4% in the second quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock valued at $362,905,000 after purchasing an additional 535,703 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group set a $133.00 price objective on shares of Prologis in a report on Monday. Wells Fargo & Company increased their price objective on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Scotiabank boosted their target price on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday. Truist Financial reaffirmed 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. Finally, Industrial Alliance Securities set a $119.00 price target on Prologis in a research report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.39.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the business’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 transaction of $111,000.00. Following the sale, the director owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owned 414 shares of the company’s stock, valued at $46,090.62. This represents a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $126.24 on Wednesday. The stock’s fifty day simple moving average is $118.46 and its 200 day simple moving average is $111.40. The stock has a market capitalization of $117.26 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.13 and a beta of 1.29. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $127.50.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.Prologis’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.43 EPS. 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 fiscal year.

Prologis Announces Dividend

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

About Prologis

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.