Atlantic Union Bankshares Corp Purchases 19,815 Shares of Prologis, Inc. $PLD

Atlantic Union Bankshares Corp lifted its holdings in Prologis, Inc. (NYSE:PLD) by 1,076.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,655 shares of the real estate investment trust’s stock after buying an additional 19,815 shares during the period. Atlantic Union Bankshares Corp’s holdings in Prologis were worth $2,276,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PLD. Nuveen LLC bought a new position in Prologis in the 1st quarter valued at $1,456,768,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Prologis by 13.0% in the 1st 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 buying an additional 1,146,454 shares during the last quarter. Strs Ohio bought a new position in Prologis during the first quarter valued at about $98,308,000. Vanguard Group Inc. increased its holdings in 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 buying an additional 869,310 shares during the last quarter. Finally, AMF Tjanstepension AB increased its holdings in Prologis by 18.4% during the second quarter. AMF Tjanstepension AB now owns 3,449,394 shares of the real estate investment trust’s stock worth $362,905,000 after buying an additional 535,703 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 1.3%

Shares of NYSE PLD opened at $125.57 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market cap of $116.64 billion, a P/E ratio of 36.61, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The business has a 50-day simple moving average of $117.94 and a two-hundred day simple moving average of $110.93.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Prologis’s payout ratio is 117.78%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PLD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a research report on Wednesday, October 8th. Barclays reduced their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday, October 20th. Finally, Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $124.56.

Insider Buying and Selling at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction 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 sale, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares of the company’s stock, valued at approximately $1,091,019. The trade was a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,000 shares of company stock worth $3,013,665. Insiders own 0.57% of the company’s stock.

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.