Fulton Bank N.A. Acquires 4,984 Shares of Prologis, Inc. $PLD

Fulton Bank N.A. raised its stake in Prologis, Inc. (NYSE:PLD) by 19.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,409 shares of the real estate investment trust’s stock after acquiring an additional 4,984 shares during the period. Fulton Bank N.A.’s holdings in Prologis were worth $3,482,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Clayton Financial Group LLC acquired a new position in Prologis in the 3rd quarter worth $26,000. Silver Oak Securities Incorporated bought a new stake in shares of Prologis in the third quarter valued at about $36,000. SJS Investment Consulting Inc. acquired a new position in shares of Prologis during the third quarter worth about $44,000. Barrett & Company Inc. bought a new position in shares of Prologis during the second quarter worth about $44,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Prologis in the 2nd quarter valued at approximately $44,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and increased their target price for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Wells Fargo & Company boosted their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a research note on Monday, October 20th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a report on Monday, October 20th. Finally, Scotiabank increased their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.24.

Prologis Price Performance

Prologis stock opened at $129.03 on Friday. The company has a market capitalization of $119.85 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 3.74 and a beta of 1.40. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70. The stock’s 50 day moving average is $126.81 and its 200-day moving average is $116.72.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share for the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The business had revenue of $2.21 billion during the quarter. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.1%. Prologis’s payout ratio is 117.78%.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.