Zions Bancorporation National Association UT Trims Stake in Prologis, Inc. $PLD

Zions Bancorporation National Association UT lessened its stake in Prologis, Inc. (NYSE:PLD) by 5.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 65,335 shares of the real estate investment trust’s stock after selling 4,006 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Prologis were worth $6,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PLD. Activest Wealth Management boosted its holdings in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. acquired a new position in shares of Prologis in the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis in the first quarter worth about $34,000. Saudi Central Bank purchased a new stake in shares of Prologis during the 1st quarter worth about $41,000. Finally, Barrett & Company Inc. acquired a new stake in shares of Prologis during the 2nd quarter valued at about $44,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PLD. Wells Fargo & Company upped their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Industrial Alliance Securities set a $119.00 target price on Prologis in a research note on Monday, October 20th. Truist Financial reiterated a “buy” rating and set a $131.00 target price (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. UBS Group set a $137.00 price target on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.56.

Prologis Stock Performance

Shares of NYSE:PLD opened at $125.57 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.50. The firm has a market capitalization of $116.64 billion, a PE ratio of 36.61, a P/E/G ratio of 3.13 and a beta of 1.29. The business’s 50 day moving average price is $117.94 and its 200-day moving average price is $111.01.

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

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid 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 currently 117.78%.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,000 shares of company stock worth $3,013,665 over the last 90 days. 0.57% of the stock is currently owned by company 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.