Prologis, Inc. $PLD Shares Sold by Glenview Trust co

Key Points

• Glenview Trust co reduced its holdings in Prologis, Inc. by 29.9%, owning 36,518 shares worth approximately $4.08 million after selling 15,587 shares in Q1.
• Prologis has received mixed ratings from analysts, with a general consensus price target of $121.83 and a "Moderate Buy" rating across various research firms.
• The company declared a quarterly dividend of $1.01 per share, which represents a 3.6% dividend yield and a payout ratio of 109.49%.

Glenview Trust co lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,518 shares of the real estate investment trust's stock after selling 15,587 shares during the quarter. Glenview Trust co's holdings in Prologis were worth $4,082,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after purchasing an additional 869,310 shares during the period. Nuveen LLC acquired a new stake in shares of Prologis during the first quarter worth about $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prologis by 5.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock worth $1,125,586,000 after purchasing an additional 505,318 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after purchasing an additional 93,201 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Prologis by 13.0% during 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 period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PLD. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Mizuho set a $118.00 target price on Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. UBS Group boosted their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Scotiabank set a $114.00 price target on Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Buying and Selling

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business'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 value of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business'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 completion of 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 disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Prologis Trading Down 0.9%

Shares of NYSE:PLD opened at $111.02 on Thursday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.39. The company has a market capitalization of $103.05 billion, a PE ratio of 30.09, a PEG ratio of 2.81 and a beta of 1.26. The business has a 50 day moving average of $108.89 and a two-hundred day moving average of $108.13. 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 posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business's revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $1.01 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. Prologis's payout ratio is 109.49%.

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.

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.