Thomasville National Bank Acquires 166 Shares of Prologis, Inc. (NYSE:PLD)

Thomasville National Bank increased its stake in Prologis, Inc. (NYSE:PLD) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,191 shares of the real estate investment trust’s stock after acquiring an additional 166 shares during the period. Thomasville National Bank’s holdings in Prologis were worth $246,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Prologis during the 4th quarter worth about $27,000. Optimum Investment Advisors bought a new stake in Prologis in the first quarter worth about $26,000. JFS Wealth Advisors LLC boosted its position in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the period. Clear Investment Research LLC grew its stake in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares during the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Prologis in the fourth quarter worth approximately $38,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLD shares. JPMorgan Chase & Co. cut their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Mizuho reduced their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Truist Financial raised their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $124.00 to $127.00 in a report on Monday. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.60.

Prologis Stock Down 0.7 %

Prologis stock traded down $0.90 during trading hours on Wednesday, reaching $120.15. The stock had a trading volume of 2,927,407 shares, compared to its average volume of 3,761,510. The company has a market cap of $111.24 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 3.02 and a beta of 1.06. The business’s 50 day moving average price is $115.99 and its 200-day moving average price is $119.56. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. During the same period in the previous year, the company earned $1.83 EPS. The company’s revenue was down 18.1% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.43 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.20%. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.