Community Trust & Investment Co. Buys 2,375 Shares of Prologis, Inc. $PLD

Key Points

• Community Trust & Investment Co. increased its holdings in Prologis, Inc. by 3.4%, bringing its total stake to 72,863 shares valued at $7.66 million.
• Several large investors significantly increased their stakes in Prologis, with First Citizens Bank & Trust Co. raising its stake by 1,451.2% in the first quarter.
• Wall Street analysts have set a consensus target price of $122.58 for Prologis, with predictions of earnings per share expected to be around 5.73 for the current fiscal year.

Community Trust & Investment Co. lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,863 shares of the real estate investment trust's stock after buying an additional 2,375 shares during the period. Community Trust & Investment Co.'s holdings in Prologis were worth $7,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock worth $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Prologis during the 4th quarter valued at about $3,800,000. Voloridge Investment Management LLC acquired a new stake in shares of Prologis during the 4th quarter valued at about $4,561,000. White Knight Strategic Wealth Advisors LLC lifted its holdings in shares of Prologis by 34.9% during the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 4,770 shares of the real estate investment trust's stock valued at $504,000 after buying an additional 1,233 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Prologis by 7.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,917 shares of the real estate investment trust's stock valued at $414,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

In related news, 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 transaction of $111,000.00. Following the transaction, the director directly owned 9,829 shares in the company, valued at $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.69 during trading hours on Friday, hitting $113.47. 8,647,790 shares of the company's stock were exchanged, compared to its average volume of 3,170,153. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $105.33 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.91 and a beta of 1.26. The company's 50-day moving average price is $109.85 and its 200-day moving average price is $107.74.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Prologis's payout ratio is currently 109.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. Citigroup reduced their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Mizuho set a $118.00 price target on Prologis and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Bank of America raised Prologis from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $118.00 to $130.00 in a research report on Tuesday. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Barclays reduced their price target on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus price target of $122.58.

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.