Fulton Bank N.A. Acquires 12,312 Shares of Prologis, Inc. (NYSE:PLD)

Fulton Bank N.A. grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 110.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,409 shares of the real estate investment trust's stock after purchasing an additional 12,312 shares during the quarter. Fulton Bank N.A.'s holdings in Prologis were worth $2,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. True Wealth Design LLC bought a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Optimum Investment Advisors bought a new position in shares of Prologis in the first quarter valued at approximately $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis in the second quarter valued at approximately $27,000. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at approximately $26,000. Finally, Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter valued at approximately $29,000. Institutional investors own 93.50% of the company's stock.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Argus raised their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Bank of America reaffirmed a "neutral" rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group raised their target price on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price of $133.35.

Prologis Trading Down 2.0 %

NYSE:PLD traded down $2.42 during trading hours on Monday, hitting $120.00. The company had a trading volume of 3,185,490 shares, compared to its average volume of 3,635,036. The company has a market capitalization of $111.10 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. The stock has a 50-day moving average price of $125.85 and a 200 day moving average price of $118.09. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. On average, equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's dividend payout ratio (DPR) is presently 112.28%.

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.

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