Thomasville National Bank Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Thomasville National Bank trimmed its stake in Prologis, Inc. (NYSE:PLD) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the real estate investment trust’s stock after selling 166 shares during the quarter. Thomasville National Bank’s holdings in Prologis were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arbor Capital Management Inc. ADV grew its holdings in Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after purchasing an additional 87 shares during the period. Mitchell Sinkler & Starr PA increased its holdings in 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 acquiring an additional 90 shares during the last quarter. Destination Wealth Management raised its stake in Prologis by 4.7% in the 2nd 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 period. CVA Family Office LLC lifted its holdings in Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 94 shares during the last quarter. Finally, Tiemann Investment Advisors LLC boosted its position in Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Scotiabank lifted their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Wells Fargo & Company increased their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Seven 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.71.

Prologis Price Performance

Shares of Prologis stock opened at $120.56 on Tuesday. The firm has a market capitalization of $111.62 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The business’s 50-day moving average price is $125.26 and its 200-day moving average price is $117.72.

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

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. 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 (DPR) is currently 112.28%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

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.