Prologis, Inc. (NYSE:PLD) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in Prologis, Inc. (NYSE:PLDGet Rating) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,724 shares of the real estate investment trust’s stock after purchasing an additional 1,613 shares during the quarter. Raymond James Trust N.A.’s holdings in Prologis were worth $3,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLD. Renaissance Technologies LLC purchased a new position in Prologis in the 4th quarter valued at $7,475,000. Gotham Asset Management LLC raised its position in shares of Prologis by 388.7% during the 4th quarter. Gotham Asset Management LLC now owns 19,783 shares of the real estate investment trust’s stock valued at $3,331,000 after acquiring an additional 15,735 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Prologis by 24.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,031 shares of the real estate investment trust’s stock worth $2,868,000 after buying an additional 3,314 shares during the last quarter. Mutual Advisors LLC bought a new position in Prologis during the 4th quarter worth $263,000. Finally, GSA Capital Partners LLP bought a new position in shares of Prologis in the fourth quarter worth $479,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $108.54 on Friday. Prologis, Inc. has a 12 month low of $106.46 and a 12 month high of $174.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $126.98 and its 200 day simple moving average is $135.40. The company has a market cap of $80.36 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.38 and a beta of 0.88.

Prologis (NYSE:PLDGet Rating) last released its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.09 billion. Prologis had a return on equity of 9.85% and a net margin of 75.72%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Sell-side analysts forecast that Prologis, Inc. will post 5.17 EPS for the current year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.16 annualized dividend and a yield of 2.91%. Prologis’s payout ratio is 63.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wolfe Research raised Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, August 24th. Evercore ISI lowered their target price on Prologis from $134.00 to $133.00 and set an “in-line” rating on the stock in a report on Monday. Jefferies Financial Group reduced their price objective on Prologis from $174.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Raymond James cut their price objective on Prologis from $190.00 to $160.00 in a research report on Thursday, July 21st. Finally, Barclays dropped their target price on Prologis from $190.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis has a consensus rating of “Buy” and an average target price of $173.31.

Prologis Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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