Fiduciary Trust Co Purchases 315 Shares of Prologis, Inc. (NYSE:PLD)

Fiduciary Trust Co boosted its position in Prologis, Inc. (NYSE:PLD) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,086 shares of the real estate investment trust’s stock after purchasing an additional 315 shares during the quarter. Fiduciary Trust Co’s holdings in Prologis were worth $5,567,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLD. ASB Consultores LLC grew its stake in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV grew its stake in shares of Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 87 shares during the last quarter. CX Institutional boosted its position in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA boosted its position in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares during the last quarter. Finally, Destination Wealth Management boosted its position in shares of Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Truist Financial raised their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada downgraded 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 note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Trading Up 1.4 %

Shares of NYSE PLD opened at $117.80 on Friday. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $109.10 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 3.45 and a beta of 1.08. The business’s 50 day moving average price is $118.87 and its 200-day moving average price is $118.60.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share 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 given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.