Raymond James Trust N.A. Has $3.53 Million Holdings in Prologis, Inc. (NYSE:PLD)

Raymond James Trust N.A. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 15.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,959 shares of the real estate investment trust’s stock after acquiring an additional 3,685 shares during the period. Raymond James Trust N.A.’s holdings in Prologis were worth $3,531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC increased its stake in shares of Prologis by 18.8% in the first quarter. SVB Wealth LLC now owns 11,547 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 1,831 shares during the period. Captrust Financial Advisors raised its stake in shares of Prologis by 188.0% during the first quarter. Captrust Financial Advisors now owns 174,783 shares of the real estate investment trust’s stock valued at $22,760,000 after acquiring an additional 114,100 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Prologis during the first quarter worth $4,386,000. Sweeney & Michel LLC bought a new stake in shares of Prologis in the first quarter worth $2,812,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Prologis by 48.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,792 shares of the real estate investment trust’s stock valued at $2,708,000 after purchasing an additional 6,780 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PLD shares. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Performance

Shares of PLD opened at $115.76 on Friday. The firm has a market capitalization of $107.21 billion, a P/E ratio of 34.97, a P/E/G ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The stock has a 50 day moving average price of $119.75 and a two-hundred day moving average price of $118.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $1.30 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently declared 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

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.