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

Raymond James Trust N.A. grew its position in Prologis, Inc. (NYSE:PLD) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,959 shares of the real estate investment trust’s stock after purchasing 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after buying an additional 317,815 shares during the period. Principal Financial Group Inc. raised its position in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock valued at $767,398,000 after purchasing an additional 958,914 shares during the period. Finally, Swedbank AB increased its stake in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after purchasing an additional 420,687 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Wells Fargo & Company upped their price target on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Morgan Stanley raised their price target 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. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Price Performance

Shares of Prologis stock opened at $115.76 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. The stock has a market capitalization of $107.21 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The company has a 50-day simple moving average of $119.75 and a two-hundred day simple moving average of $118.32.

Prologis (NYSE:PLD) last issued its quarterly earnings results 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). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.32%. Prologis’s dividend payout ratio (DPR) 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.