Raymond James Trust N.A. Acquires 1,613 Shares of Prologis, Inc. (NYSE:PLD)

Raymond James Trust N.A. boosted its holdings in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,724 shares of the real estate investment trust’s stock after purchasing an additional 1,613 shares during the period. Raymond James Trust N.A.’s holdings in Prologis were worth $3,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Hazlett Burt & Watson Inc. bought a new position in shares of Prologis in the 1st quarter valued at $132,000. Acadian Asset Management LLC lifted its stake in shares of Prologis by 87.7% in the 1st quarter. Acadian Asset Management LLC now owns 20,258 shares of the real estate investment trust’s stock valued at $3,270,000 after acquiring an additional 9,467 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Prologis by 1.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 18,513 shares of the real estate investment trust’s stock valued at $2,989,000 after purchasing an additional 198 shares during the period. Argent Trust Co increased its holdings in Prologis by 2.1% in the first quarter. Argent Trust Co now owns 4,556 shares of the real estate investment trust’s stock valued at $736,000 after purchasing an additional 93 shares during the period. Finally, Wexford Capital LP acquired a new stake in Prologis in the fourth quarter valued at $1,780,000. 94.01% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of PLD opened at $108.54 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a 50-day moving average of $126.98 and a 200-day moving average of $135.40. The company has a market cap of $80.36 billion, a PE ratio of 21.71, a P/E/G ratio of 2.38 and a beta of 0.88. Prologis, Inc. has a one year low of $106.46 and a one year high of $174.54.

Prologis (NYSE:PLDGet Rating) last announced its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). Prologis had a net margin of 75.72% and a return on equity of 9.85%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business posted $1.01 EPS. Prologis’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Prologis, Inc. will post 5.17 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.79 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $3.16 annualized dividend and a yield of 2.91%. Prologis’s payout ratio is 63.20%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLD shares. Raymond James decreased their price objective on Prologis from $190.00 to $160.00 in a report on Thursday, July 21st. Jefferies Financial Group decreased their price target on Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Evercore ISI decreased their price target on Prologis from $134.00 to $133.00 and set an “in-line” rating for the company in a report on Monday. Wells Fargo & Company increased their price target on Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. Finally, Barclays decreased their price target on Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $173.31.

Prologis Company Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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