PNC Financial Services Group Inc. Purchases 204,039 Shares of Prologis, Inc. $PLD

PNC Financial Services Group Inc. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 38.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 734,842 shares of the real estate investment trust’s stock after buying an additional 204,039 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Prologis worth $84,154,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Clayton Financial Group LLC bought a new stake in Prologis during the 3rd quarter valued at approximately $26,000. Silver Oak Securities Incorporated purchased a new stake in Prologis during the 3rd quarter valued at approximately $36,000. AlphaQuest LLC bought a new stake in shares of Prologis during the third quarter valued at approximately $39,000. SJS Investment Consulting Inc. purchased a new position in shares of Prologis in the third quarter worth $44,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Prologis during the second quarter worth $44,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 1.9%

PLD opened at $138.93 on Monday. The stock has a 50-day moving average of $130.47 and a 200 day moving average of $121.99. The company has a current ratio of 0.19, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $141.95. The firm has a market cap of $129.05 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.44 and a beta of 1.42.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.44. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.09 billion. Prologis had a return on equity of 6.64% and a net margin of 37.86%.The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 earnings per share. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Prologis’s previous quarterly dividend of $1.01. This represents a $4.28 annualized dividend and a yield of 3.1%. Prologis’s payout ratio is presently 113.80%.

Insiders Place Their Bets

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research reports. BNP Paribas Exane lifted their price target on shares of Prologis from $129.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Morgan Stanley set a $135.00 target price on Prologis in a report on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. The Goldman Sachs Group raised their price target on Prologis from $137.00 to $148.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Prologis in a research note on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.89.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.