Country Club Bank Acquires Shares of 18,055 Prologis, Inc. $PLD

Key Points

• Country Club Bank has acquired 18,055 shares of Prologis, Inc. (NYSE: PLD), valued at approximately $1.9 million, as reported in its recent Form 13F filing.
• Wall Street analysts project a moderate growth for Prologis, with a consensus average price target of $122.58 and ratings ranging from "Strong Buy" to "Hold."
• Prologis has announced a quarterly dividend of $1.01 per share, translating to an annualized yield of 3.5% and a payout ratio of 109.49%.

Country Club Bank purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,055 shares of the real estate investment trust's stock, valued at approximately $1,907,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Activest Wealth Management increased its holdings in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis during the 1st quarter valued at about $34,000. Saudi Central Bank purchased a new stake in Prologis during the 1st quarter valued at about $41,000. Finally, Olde Wealth Management LLC acquired a new stake in Prologis during the first quarter worth about $43,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Prologis in a report on Saturday, September 27th. Bank of America upgraded Prologis from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $122.58.

Insider Buying and Selling

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total value of $57,845.00. Following the sale, the director owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. The trade was a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 of the company's stock, 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 sold a total of 26,500 shares of company stock worth $2,952,095 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Prologis Stock Down 1.0%

PLD opened at $115.95 on Wednesday. The business's 50-day simple moving average is $111.36 and its 200-day simple moving average is $107.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The stock has a market capitalization of $107.63 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis's payout ratio is currently 109.49%.

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.

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