Sanibel Captiva Trust Company Inc. Sells 703 Shares of Prologis, Inc. (NYSE:PLD)

Sanibel Captiva Trust Company Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,624 shares of the real estate investment trust’s stock after selling 703 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Prologis were worth $584,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PLD. Valeo Financial Advisors LLC raised its stake in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Swedbank AB bought a new position in shares of Prologis during the 1st quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Prologis during the 1st quarter worth approximately $465,659,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the 2nd quarter worth approximately $203,223,000. Finally, Vanguard Group Inc. grew its holdings in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 1.6 %

PLD opened at $120.21 on Friday. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock’s fifty day moving average is $125.23 and its two-hundred day moving average is $117.91. The company has a market capitalization of $111.30 billion, a P/E ratio of 39.67, a PEG ratio of 3.05 and a beta of 1.07. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio is presently 126.73%.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Bank of America reiterated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group upped their price objective 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. Finally, Barclays reduced their price objective on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

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.