American National Bank & Trust Buys 8,773 Shares of Prologis, Inc. $PLD

American National Bank & Trust lifted its position in Prologis, Inc. (NYSE:PLD) by 62,664.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,787 shares of the real estate investment trust’s stock after purchasing an additional 8,773 shares during the period. American National Bank & Trust’s holdings in Prologis were worth $1,006,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Prologis during the 2nd quarter worth $1,288,936,000. Franklin Resources Inc. raised its holdings in shares of Prologis by 216.0% in the second quarter. Franklin Resources Inc. now owns 10,050,843 shares of the real estate investment trust’s stock valued at $1,056,545,000 after acquiring an additional 6,870,479 shares in the last quarter. State Street Corp lifted its stake in Prologis by 1.9% in the second quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after acquiring an additional 1,088,544 shares during the period. Strs Ohio bought a new position in Prologis during the 1st quarter worth about $98,308,000. Finally, Balyasny Asset Management L.P. increased its position in Prologis by 11,585.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 882,398 shares of the real estate investment trust’s stock valued at $92,758,000 after purchasing an additional 874,847 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Prologis Stock Performance

Shares of PLD opened at $129.03 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $119.85 billion, a PE ratio of 37.62, a P/E/G ratio of 3.74 and a beta of 1.40. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70. The stock has a fifty day moving average price of $126.81 and a 200-day moving average price of $116.72.

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

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a $1.01 dividend. 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 (DPR) is presently 117.78%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLD. Evercore ISI upped their price target on shares of Prologis from $116.00 to $118.00 in a research report on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Prologis in a report on Monday. BTIG Research increased their target price on Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial reissued a “buy” rating and issued a $131.00 price target (up from $120.00) on shares of Prologis in a research report on Monday, October 20th. Finally, Wells Fargo & Company raised their price objective on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.24.

Prologis 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.