Sanibel Captiva Trust Company Inc. Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sanibel Captiva Trust Company Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 4,902 shares of the real estate investment trust’s stock after buying an additional 278 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Prologis were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the 2nd quarter worth about $27,000. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC bought a new position in shares of Prologis in the third quarter valued at approximately $48,000. Finally, Coastline Trust Co purchased a new position in Prologis during the third quarter valued at approximately $52,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday. Finally, Truist Financial dropped their price target on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Stock Performance

NYSE PLD opened at $109.51 on Monday. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The company has a 50-day simple moving average of $110.34 and a two-hundred day simple moving average of $118.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. Prologis’s payout ratio is 116.01%.

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.