First National Trust Co Has $3.21 Million Holdings in Prologis, Inc. (NYSE:PLD)

First National Trust Co cut its holdings in Prologis, Inc. (NYSE:PLD) by 27.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,391 shares of the real estate investment trust’s stock after selling 11,337 shares during the quarter. First National Trust Co’s holdings in Prologis were worth $3,212,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. Harbour Investments Inc. boosted its stake in Prologis by 13.2% in the third quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 364 shares in the last quarter. ING Groep NV boosted its stake in Prologis by 1.1% in the third quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock valued at $15,791,000 after buying an additional 1,378 shares in the last quarter. Balboa Wealth Partners acquired a new stake in Prologis in the third quarter valued at about $262,000. CIBC Asset Management Inc boosted its stake in Prologis by 11.3% in the third quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock valued at $23,740,000 after buying an additional 19,029 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its stake in Prologis by 5.0% in the third quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock valued at $23,163,000 after buying an additional 8,766 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLD shares. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 1.5 %

Shares of PLD stock opened at $111.98 on Friday. The company has a market cap of $103.79 billion, a P/E ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09. The stock has a 50 day simple moving average of $116.89 and a two-hundred day simple moving average of $117.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Prologis 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.