Sabal Trust CO Acquires 3,943 Shares of Prologis, Inc. (NYSE:PLD)

Sabal Trust CO raised its holdings in Prologis, Inc. (NYSE:PLD) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 297,628 shares of the real estate investment trust’s stock after acquiring an additional 3,943 shares during the quarter. Prologis accounts for approximately 1.8% of Sabal Trust CO’s investment portfolio, making the stock its 14th largest holding. Sabal Trust CO’s holdings in Prologis were worth $31,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ASB Consultores LLC boosted its stake in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares in the last quarter. Principle Wealth Partners LLC grew its stake in shares of Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC increased its holdings in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 93 shares during the period. Carmel Capital Partners LLC increased its holdings in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 94 shares during the period. Finally, Berkshire Bank lifted its stake in shares of Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.6 %

NYSE PLD opened at $122.69 on Wednesday. The firm has a market capitalization of $113.72 billion, a PE ratio of 30.67, a P/E/G ratio of 2.70 and a beta of 1.10. The stock’s 50 day moving average is $113.07 and its 200 day moving average is $117.99. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.29%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLD. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

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.