Huntington National Bank Has $20.44 Million Stock Position in Prologis, Inc. $PLD

Huntington National Bank trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,428 shares of the real estate investment trust’s stock after selling 789 shares during the period. Huntington National Bank’s holdings in Prologis were worth $20,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management raised its position in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the period. Pandora Wealth Inc. purchased a new position in Prologis in the first quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the first quarter valued at about $34,000. Saudi Central Bank purchased a new position in Prologis in the first quarter valued at about $41,000. Finally, Cornerstone Planning Group LLC grew its stake in Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 152 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,000 shares of company stock valued at $3,013,665 in the last three months. 0.57% of the stock is owned by insiders.

Prologis Stock Performance

PLD opened at $124.13 on Tuesday. The company has a market cap of $115.30 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.13 and a beta of 1.28. The stock has a 50-day moving average of $117.01 and a 200-day moving average of $110.40. Prologis, Inc. has a 52-week low of $85.35 and a 52-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 0.64.

Prologis (NYSE:PLD) last released its quarterly 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. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is currently 117.78%.

Analysts Set New Price Targets

A number of brokerages have commented on PLD. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Mizuho set a $118.00 target price on Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Truist Financial restated a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $124.56.

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.