OLD National Bancorp IN Invests $300,000 in Prologis, Inc. $PLD

OLD National Bancorp IN purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,858 shares of the real estate investment trust's stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Michael S. Ryan Inc. lifted its stake in shares of Prologis by 2.9% during the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust's stock valued at $348,000 after buying an additional 94 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its stake in shares of Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC lifted 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 valued at $201,000 after buying an additional 96 shares in the last quarter. Sandler Capital Management lifted 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 valued at $224,000 after buying an additional 100 shares in the last quarter. Finally, Sunflower Bank N.A. lifted its stake in shares of 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 Analysts Forecast Growth

A number of brokerages have issued reports on PLD. Evercore ISI lifted their price target on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. UBS Group lifted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Bank of America upgraded shares of Prologis from a "neutral" rating to a "buy" rating and lifted their price target for the company from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.58.

Prologis Stock Performance

Shares of NYSE:PLD opened at $115.95 on Wednesday. The company has a market capitalization of $107.63 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.96 and a beta of 1.28. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.65. The firm's 50-day moving average is $111.36 and its 200 day moving average is $107.68. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.

Prologis (NYSE:PLD - Get Free Report) last issued 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 the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.01 dividend. The ex-dividend date of this dividend was 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 (DPR) is currently 109.49%.

Insiders Place Their Bets

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock valued at $2,952,095. 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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