CNB Bank Has $119,000 Stock Position in Prologis, Inc. (NYSE:PLD)

CNB Bank trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,130 shares of the real estate investment trust’s stock after selling 472 shares during the quarter. CNB Bank’s holdings in Prologis were worth $119,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Avanza Fonder AB purchased a new stake in shares of Prologis in the fourth quarter valued at about $7,510,000. Procyon Advisors LLC lifted its holdings in Prologis by 19.9% during the fourth quarter. Procyon Advisors LLC now owns 5,658 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 941 shares during the last quarter. Empirical Asset Management LLC grew its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Prologis by 69.0% during the 4th quarter. Gateway Investment Advisers LLC now owns 328,041 shares of the real estate investment trust’s stock valued at $34,674,000 after purchasing an additional 133,968 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Prologis by 37.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,631 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 2,333 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Stock Performance

Shares of Prologis stock opened at $111.49 on Friday. The firm’s fifty day simple moving average is $110.53 and its 200-day simple moving average is $118.36. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $103.26 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.85 and a beta of 1.09.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is currently 116.01%.

About Prologis

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.