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

Raymond James & Associates increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,271,730 shares of the real estate investment trust’s stock after acquiring an additional 262,995 shares during the period. Raymond James & Associates owned about 0.14% of Prologis worth $160,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Arbor Capital Management Inc. ADV raised its holdings in shares of Prologis by 0.8% in 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 buying an additional 87 shares in the last quarter. CX Institutional boosted its stake in shares of Prologis by 2.7% in the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in shares of Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 90 shares during the last quarter. Destination Wealth Management increased its position in shares of Prologis by 4.7% during the 2nd quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 92 shares in the last quarter. Finally, Tiemann Investment Advisors LLC lifted its holdings in Prologis by 2.4% during 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 purchasing an additional 100 shares during the last quarter. 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 the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.2 %

Shares of NYSE PLD opened at $122.50 on Friday. The firm has a 50 day moving average price of $125.43 and a 200 day moving average price of $117.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS 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 the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Analysts expect that Prologis, Inc. will post 5.42 EPS 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 paid a dividend of $0.96 per share. 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 payout ratio is 112.28%.

Analysts Set New Price Targets

Several analysts have weighed in on PLD shares. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Prologis 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.