Prologis, Inc. (NYSE:PLD) Shares Acquired by Sabal Trust CO

Sabal Trust CO lifted its stake in Prologis, Inc. (NYSE:PLD) by 1.7% in the first quarter, HoldingsChannel reports. The firm owned 302,588 shares of the real estate investment trust’s stock after acquiring an additional 4,960 shares during the quarter. Prologis makes up about 1.9% of Sabal Trust CO’s investment portfolio, making the stock its 14th biggest position. Sabal Trust CO’s holdings in Prologis were worth $33,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its stake in Prologis by 12.2% in the first quarter. Sequoia Financial Advisors LLC now owns 13,813 shares of the real estate investment trust’s stock worth $1,544,000 after acquiring an additional 1,500 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Prologis by 34.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 662,303 shares of the real estate investment trust’s stock valued at $74,039,000 after purchasing an additional 167,960 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Prologis by 2.6% during the 1st quarter. Perigon Wealth Management LLC now owns 8,018 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 206 shares during the last quarter. Tyche Wealth Partners LLC grew its stake in shares of Prologis by 11.0% during the first quarter. Tyche Wealth Partners LLC now owns 2,864 shares of the real estate investment trust’s stock worth $320,000 after purchasing an additional 283 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Prologis in the first quarter valued at $171,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD opened at $104.91 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The firm has a 50-day simple moving average of $106.08 and a 200-day simple moving average of $109.63. The company has a market capitalization of $97.35 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLD. Wells Fargo & Company cut their price target on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a research report on Monday, April 21st. Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Finally, CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.42.

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.