Truist Financial Corp Has $33.52 Million Position in Prologis, Inc. $PLD

Key Points

• Truist Financial Corp increased its stake in Prologis, Inc. by 7.3%, owning 318,910 shares valued at $33.52 million at the end of Q2.
• Prologis recently posted earnings of $1.46 EPS for Q2, exceeding analysts' expectations, with an annual revenue increase of 8.8%.
• The company announced a quarterly dividend of $1.01 per share, reflecting a dividend yield of 3.5%, although its payout ratio is currently over 109%.

Truist Financial Corp grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,910 shares of the real estate investment trust's stock after acquiring an additional 21,640 shares during the period. Truist Financial Corp's holdings in Prologis were worth $33,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Activest Wealth Management grew its position in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust's stock worth $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis in the 1st quarter valued at approximately $34,000. Saudi Central Bank bought a new stake in shares of Prologis during the 1st quarter worth approximately $41,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Prologis during the 1st quarter worth approximately $43,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Citigroup cut 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. Barclays decreased their price target on shares of Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. Finally, Evercore ISI raised their price target on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.58.

Prologis Price Performance

PLD stock opened at $116.22 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The company's 50-day moving average is $110.90 and its 200-day moving average is $107.59. The stock has a market capitalization of $107.88 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.94 and a beta of 1.28. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $127.65.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during 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%. Prologis's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis's payout ratio is presently 109.49%.

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the 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 owned 9,829 shares in the company, valued at approximately $1,091,019. This represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at $46,090.62. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock worth $2,952,095. Corporate insiders own 0.57% of the company's stock.

Prologis 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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