Sabal Trust CO Boosts Position in Prologis, Inc. (NYSE:PLD)

Sabal Trust CO increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 295,689 shares of the real estate investment trust’s stock after purchasing an additional 1,878 shares during the quarter. Prologis makes up approximately 2.0% of Sabal Trust CO’s portfolio, making the stock its 12th biggest position. Sabal Trust CO’s holdings in Prologis were worth $33,209,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Destination Wealth Management increased its position in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 92 shares during the period. CVA Family Office LLC increased its position 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 worth $70,000 after buying an additional 94 shares during the period. Tiemann Investment Advisors LLC increased 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 buying an additional 100 shares during the period. M&G Plc increased its position in Prologis by 3.4% during the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 100 shares during the period. Finally, Conning Inc. increased its position in Prologis by 1.0% during the second quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust’s stock worth $1,182,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.0 %

Shares of PLD stock opened at $127.82 on Friday. The business’s fifty day moving average price is $121.00 and its 200 day moving average price is $119.18. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market capitalization of $118.34 billion, a PE ratio of 37.37, a P/E/G ratio of 3.02 and a beta of 1.06. 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 announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho cut their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Evercore ISI lifted their price target on Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research report on Wednesday. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis 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.