Sabal Trust CO Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sabal Trust CO raised its position in shares of Prologis, Inc. (NYSE:PLD) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 295,689 shares of the real estate investment trust’s stock after buying an additional 1,878 shares during the quarter. Prologis comprises about 2.0% of Sabal Trust CO’s investment portfolio, making the stock its 12th largest holding. Sabal Trust CO’s holdings in Prologis were worth $33,209,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLD. Optimum Investment Advisors acquired a new position in shares of Prologis during the first quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Prologis during the second quarter valued at about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis during the fourth quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis during the second quarter valued at about $29,000. Finally, JFS Wealth Advisors LLC increased its holdings 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 acquiring an additional 168 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Truist Financial upped their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis Trading Up 2.0 %

Prologis stock opened at $127.82 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock’s 50 day simple moving average is $121.00 and its two-hundred day simple moving average is $119.18. The firm has a market cap of $118.34 billion, a PE ratio of 37.37, a P/E/G ratio of 3.02 and a beta of 1.06.

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

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.