Prologis, Inc. (NYSE:PLD) Shares Purchased by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,183 shares of the real estate investment trust’s stock after buying an additional 412 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Prologis were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLD. Swedbank AB acquired a new stake in Prologis in the first quarter worth approximately $596,614,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of Prologis in the 1st quarter worth $465,659,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis in the second quarter valued at $203,223,000. Vanguard Group Inc. lifted its holdings in shares of Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares during the period. Finally, AMF Tjanstepension AB boosted its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Performance

Shares of PLD opened at $113.40 on Friday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.36 and a current ratio of 0.43. The company has a market capitalization of $105.03 billion, a PE ratio of 34.26, a PEG ratio of 3.04 and a beta of 1.08. The company’s 50 day moving average price is $124.01 and its 200 day moving average price is $117.33.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. Research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio is 116.01%.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Scotiabank reduced their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

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.