Fiduciary Trust Co Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Fiduciary Trust Co boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,086 shares of the real estate investment trust’s stock after acquiring an additional 315 shares during the quarter. Fiduciary Trust Co’s holdings in Prologis were worth $5,567,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PLD. American Capital Advisory LLC purchased a new position in shares of Prologis in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC bought a new position in Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. lifted its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis during the second quarter valued at about $31,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.4 %

Prologis stock opened at $117.80 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The business’s 50-day moving average price is $118.87 and its 200 day moving average price is $118.60. The firm has a market cap of $109.10 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 3.45 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its quarterly earnings data 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). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLD. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Scotiabank dropped their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.25.

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.