Fifth Third Bancorp Has $12.79 Million Stock Holdings in Prologis, Inc. $PLD

Key Points

• Fifth Third Bancorp reduced its holdings in Prologis, Inc. by 12.8% in the second quarter, bringing its total investment to $12.79 million.
• Prologis recently announced a quarterly dividend of $1.01 per share, translating to a 3.6% yield, with a payout ratio currently at 109.49%.
• Institutional investors own 93.50% of Prologis, demonstrating significant confidence in the real estate investment trust's performance.

Fifth Third Bancorp decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,686 shares of the real estate investment trust's stock after selling 17,834 shares during the quarter. Fifth Third Bancorp's holdings in Prologis were worth $12,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Prologis during the 1st quarter worth approximately $1,456,768,000. Valeo Financial Advisors LLC increased its position in shares of Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after acquiring an additional 2,862,183 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Prologis by 5,678.8% during the first quarter. SG Americas Securities LLC now owns 1,436,773 shares of the real estate investment trust's stock valued at $160,617,000 after acquiring an additional 1,411,910 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Prologis by 13,272.2% during the first quarter. GAMMA Investing LLC now owns 1,333,207 shares of the real estate investment trust's stock worth $149,039,000 after acquiring an additional 1,323,237 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Prologis by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust's stock worth $1,113,994,000 after purchasing an additional 1,146,454 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Trading Down 1.3%

Prologis stock opened at $112.98 on Thursday. 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 fifty-two week low of $85.35 and a fifty-two week high of $127.65. The stock has a market cap of $104.87 billion, a P/E ratio of 30.62, a PEG ratio of 2.89 and a beta of 1.26. The firm's fifty day moving average price is $110.12 and its 200-day moving average price is $107.59.

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 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 period in the previous year, the business earned $1.34 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLD. Barclays cut their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, September 15th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Evercore ISI raised their price target on shares of Prologis from $111.00 to $113.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Mizuho set a $118.00 price objective on Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.