Raymond James & Associates Acquires 262,995 Shares of Prologis, Inc. (NYSE:PLD)

Raymond James & Associates grew its stake in Prologis, Inc. (NYSE:PLD) by 26.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,271,730 shares of the real estate investment trust’s stock after purchasing an additional 262,995 shares during the quarter. Raymond James & Associates’ holdings in Prologis were worth $160,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arbor Capital Management Inc. ADV raised its stake in shares of Prologis by 0.8% during the 2nd quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 87 shares in the last quarter. CX Institutional increased its holdings in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA raised its position in Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 90 shares in the last quarter. Destination Wealth Management lifted its stake in Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 92 shares during the last quarter. Finally, Tiemann Investment Advisors LLC grew its position in shares of Prologis by 2.4% in the 1st quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $122.50 on Friday. The stock has a market capitalization of $113.42 billion, a PE ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business has a fifty day moving average price of $125.43 and a two-hundred day moving average price of $117.66.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $1.30 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLD. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. The Goldman Sachs Group raised their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays decreased their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI lifted their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

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.