Prologis, Inc. $PLD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Prologis, Inc. (NYSE:PLD) by 2.8% during the third quarter, Holdings Channel.com reports. The fund owned 5,678,857 shares of the real estate investment trust’s stock after selling 163,887 shares during the period. Bank of New York Mellon Corp’s holdings in Prologis were worth $650,343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PLD. Clayton Financial Group LLC purchased a new stake in Prologis in the third quarter valued at approximately $26,000. Silver Oak Securities Incorporated purchased a new position in shares of Prologis during the third quarter worth $36,000. Barrett & Company Inc. acquired a new stake in shares of Prologis in the second quarter valued at $44,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at $44,000. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Prologis in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Prologis Stock Down 1.2%

Shares of NYSE:PLD opened at $127.19 on Thursday. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $134.94. The firm’s 50 day moving average price is $128.63 and its 200 day moving average price is $119.67. The company has a quick ratio of 0.64, a current ratio of 0.19 and a debt-to-equity ratio of 0.61. The stock has a market cap of $118.14 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 3.14 and a beta of 1.40.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, January 21st. The real estate investment trust reported $1.44 EPS for the quarter, meeting analysts’ consensus estimates of $1.44. Prologis had a net margin of 37.86% and a return on equity of 6.64%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $1.42 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, December 16th. Prologis’s payout ratio is 117.78%.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Morgan Stanley set a $135.00 target price on Prologis in a report on Friday, January 16th. Evercore ISI raised their price objective on shares of Prologis from $118.00 to $121.00 and gave the company an “in-line” rating in a research note on Thursday, January 22nd. Wells Fargo & Company lifted their price objective on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Barclays reiterated an “overweight” rating and set a $139.00 target price on shares of Prologis in a report on Tuesday, January 13th. Finally, BTIG Research boosted their price target on shares of Prologis from $134.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.22.

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.