Prologis, Inc. $PLD Holdings Lifted by Verity & Verity LLC

Verity & Verity LLC raised its position in Prologis, Inc. (NYSE:PLD) by 42.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 165,438 shares of the real estate investment trust’s stock after acquiring an additional 49,604 shares during the quarter. Prologis accounts for about 1.5% of Verity & Verity LLC’s investment portfolio, making the stock its 26th biggest position. Verity & Verity LLC’s holdings in Prologis were worth $18,946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Fulton Bank N.A. increased its position in Prologis by 19.6% in the 3rd quarter. Fulton Bank N.A. now owns 30,409 shares of the real estate investment trust’s stock valued at $3,482,000 after acquiring an additional 4,984 shares during the period. American National Bank & Trust grew its stake in shares of Prologis by 62,664.3% in the third quarter. American National Bank & Trust now owns 8,787 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 8,773 shares in the last quarter. Noble Family Wealth LLC acquired a new position in shares of Prologis during the third quarter valued at $220,000. Signaturefd LLC raised its stake in shares of Prologis by 16.5% during the third quarter. Signaturefd LLC now owns 12,075 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 1,714 shares in the last quarter. Finally, Brown Miller Wealth Management LLC lifted its holdings in Prologis by 6.2% in the third quarter. Brown Miller Wealth Management LLC now owns 18,711 shares of the real estate investment trust’s stock worth $2,143,000 after purchasing an additional 1,087 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PLD shares. UBS Group set a $138.00 target price on shares of Prologis in a research note on Thursday, December 4th. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Evercore ISI raised their price objective on shares of Prologis from $116.00 to $118.00 in a research note on Monday, December 22nd. Wells Fargo & Company boosted their target price on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Barclays decreased their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.24.

Prologis Stock Up 1.1%

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

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

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s dividend payout ratio is currently 117.78%.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.