Cullen Frost Bankers Inc. Increases Stake in Prologis, Inc. $PLD

Key Points

• Cullen Frost Bankers Inc. has increased its stake in Prologis, Inc. by 17.2%, owning 64,523 shares valued at approximately $6.78 million as of the end of the second quarter.
• In recent updates, Prologis reported a quarterly EPS of $1.49, beating estimates, with revenue of $2.05 billion and a projected EPS of 5.73 for FY 2025.
• A recent dividend of $1.01 per share was declared, representing an annualized yield of 3.2%, with a payout ratio of 117.78%.

Cullen Frost Bankers Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,523 shares of the real estate investment trust's stock after buying an additional 9,473 shares during the period. Cullen Frost Bankers Inc.'s holdings in Prologis were worth $6,783,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its position in Prologis by 637.1% during 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 in the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis in the 1st quarter valued at $34,000. Saudi Central Bank purchased a new position in shares of Prologis in the 1st quarter valued at $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLD shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Prologis in a report on Wednesday, October 8th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a report on Tuesday, August 19th. Barclays lowered their price objective on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $124.44.

Insider Transactions at Prologis

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated 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 directly owned 9,329 shares of the company's stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,500 shares of company stock valued at $2,952,095. 0.57% of the stock is currently owned by insiders.

Prologis Stock Down 0.1%

Prologis stock opened at $125.91 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.20 and a quick ratio of 0.65. The stock has a market capitalization of $116.93 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.20 and a beta of 1.28. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.50. The business has a fifty day moving average price of $114.40 and a 200-day moving average price of $108.52.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis's payout ratio is currently 117.78%.

Prologis Company 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.

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