First American Bank Acquires 5,161 Shares of Prologis, Inc. $PLD

Key Points

• First American Bank increased its ownership of Prologis, Inc. by 13.0%, acquiring an additional 5,161 shares in the second quarter, bringing its total to 44,761 shares valued at approximately $4.7 million.
• Prologis reported earnings per share of $1.46 for the last quarter, exceeding analysts' expectations of $1.41, while revenue matched forecasts at $2.03 billion.
• The company announced a quarterly dividend of $1.01 per share, with a dividend yield of 3.5%, indicating a dividend payout ratio of 109.49%.

First American Bank raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,761 shares of the real estate investment trust's stock after acquiring an additional 5,161 shares during the quarter. First American Bank's holdings in Prologis were worth $4,705,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Michael S. Ryan Inc. raised its position in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust's stock worth $348,000 after acquiring an additional 94 shares during the period. LaSalle St. Investment Advisors LLC grew its stake in shares of Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after buying an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after purchasing an additional 96 shares during the period. Sandler Capital Management boosted its stake in shares of Prologis by 5.3% during the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 100 shares during the period. Finally, Sunflower Bank N.A. lifted its holdings in Prologis by 3.9% during the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust's stock valued at $284,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Scotiabank set a $114.00 target price on shares of Prologis and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Bank of America raised shares of Prologis from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Finally, Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two equities research 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 company. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $122.58.

Prologis Stock Performance

NYSE:PLD opened at $114.27 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $110.41 and a two-hundred day moving average of $107.53. The stock has a market capitalization of $106.07 billion, a PE ratio of 30.97, a P/E/G ratio of 2.86 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65.

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 analysts' consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Insider Transactions at Prologis

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 9,829 shares of the company's stock, valued at $1,091,019. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

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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