Jacobi Capital Management LLC Acquires 298 Shares of Prologis, Inc. (NYSE:PLD)

Jacobi Capital Management LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,918 shares of the real estate investment trust’s stock after buying an additional 298 shares during the quarter. Jacobi Capital Management LLC’s holdings in Prologis were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PLD. Valeo Financial Advisors LLC lifted its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Norges Bank bought a new position in Prologis during the fourth quarter valued at $1,074,648,000. Capital World Investors lifted its position in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Prologis during the first quarter valued at $465,659,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLD shares. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. BMO Capital Markets restated a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Evercore ISI raised their target price on shares of Prologis from $119.00 to $123.00 and gave the stock an “in-line” rating in a report on Thursday, July 18th. Finally, Barclays lowered their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.60.

Prologis Stock Down 1.6 %

NYSE PLD traded down $2.06 during trading on Tuesday, reaching $124.60. 625,573 shares of the company’s stock traded hands, compared to its average volume of 3,737,900. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.10 and a quick ratio of 0.29. The firm has a market cap of $115.36 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.06. The company’s 50 day simple moving average is $112.35 and its two-hundred day simple moving average is $120.10. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.