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

Sabal Trust CO raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 297,628 shares of the real estate investment trust's stock after acquiring an additional 3,943 shares during the quarter. Prologis makes up 1.8% of Sabal Trust CO's investment portfolio, making the stock its 14th largest position. Sabal Trust CO's holdings in Prologis were worth $31,459,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Prologis by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock worth $631,266,000 after acquiring an additional 32,644 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and dropped their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

Prologis Price Performance

Shares of PLD traded up $1.11 during mid-day trading on Friday, reaching $123.88. The stock had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. The firm has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The business has a fifty day moving average of $114.28 and a 200 day moving average of $118.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

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.