Huntington National Bank Sells 9,270 Shares of Prologis, Inc. $PLD

Huntington National Bank lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,158 shares of the real estate investment trust’s stock after selling 9,270 shares during the period. Huntington National Bank’s holdings in Prologis were worth $21,204,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Clayton Financial Group LLC bought a new stake in Prologis during the third quarter worth about $26,000. Silver Oak Securities Incorporated purchased a new position in shares of Prologis during the third quarter valued at approximately $36,000. Rossby Financial LCC lifted its holdings in shares of Prologis by 69.6% during the third quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 135 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Prologis in the 3rd quarter worth approximately $39,000. Finally, Clear Investment Research LLC grew its stake in shares of Prologis by 34.5% in the 3rd quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 88 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial cut their target price on Prologis from $142.00 to $139.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. The Goldman Sachs Group raised their target price on shares of Prologis from $137.00 to $148.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Mizuho increased their price target on shares of Prologis from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Scotiabank upgraded shares of Prologis from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $133.00 to $146.00 in a research report on Wednesday, January 14th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.95.

Prologis Price Performance

Shares of NYSE:PLD opened at $142.44 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.58 and a current ratio of 0.58. The business’s fifty day moving average price is $132.89 and its two-hundred day moving average price is $124.20. The stock has a market cap of $132.41 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 3.53 and a beta of 1.42. Prologis, Inc. has a one year low of $85.35 and a one year high of $143.95.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, January 21st. The real estate investment trust reported $1.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.44. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Prologis had a return on equity of 5.79% and a net margin of 37.86%.The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 earnings per share. Prologis has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.0%. This is an increase from Prologis’s previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, March 17th. Prologis’s dividend payout ratio (DPR) is 113.80%.

About Prologis

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.