Intrust Bank NA Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Intrust Bank NA has increased its stake in Prologis, Inc. by 16.1%, owning 21,818 shares valued at approximately $2.44 million as of its latest SEC filing.
• Prologis reported $1.46 EPS for the recent quarter, beating estimates by $0.05, and its quarterly revenue was up 8.8% year-over-year.
• The company recently declared a quarterly dividend of $1.01 per share, representing a dividend yield of 3.8% with a payout ratio of 109.49%.

Intrust Bank NA increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,818 shares of the real estate investment trust's stock after buying an additional 3,024 shares during the period. Intrust Bank NA's holdings in Prologis were worth $2,439,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Alley Investment Management Company LLC grew its stake in Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after acquiring an additional 54,914 shares during the period. First Citizens Bank & Trust Co. grew its position in Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the period. Truist Financial Corp increased its stake in shares of Prologis by 9.3% during the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after purchasing an additional 25,229 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after purchasing an additional 6,350 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Prologis by 3.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 167 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.5%

Shares of NYSE:PLD traded up $0.50 on Thursday, hitting $106.23. The company had a trading volume of 2,192,678 shares, compared to its average volume of 4,719,003. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a market capitalization of $98.59 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 2.65 and a beta of 1.21. The firm's 50-day simple moving average is $107.49 and its two-hundred day simple moving average is $109.71. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating 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 analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company's revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLD. UBS Group upped their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird dropped their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.74.

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.