Prologis, Inc. (NYSE:PLD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 502,264 shares of the real estate investment trust’s stock after selling 9,007 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Prologis worth $63,426,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth approximately $27,000. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter worth $26,000. Central Valley Advisors LLC bought a new stake in Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Prologis during the second quarter worth about $31,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Evercore ISI boosted their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Down 0.9 %

PLD stock opened at $116.78 on Monday. The firm has a market cap of $108.16 billion, a PE ratio of 35.28, a P/E/G ratio of 3.41 and a beta of 1.08. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $118.70 and a 200 day simple moving average of $118.80.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

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.