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

Sabal Trust CO increased its position in shares of Prologis, Inc. (NYSE:PLD) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,628 shares of the real estate investment trust’s stock after buying an additional 3,943 shares during the period. Prologis accounts for 1.8% of Sabal Trust CO’s holdings, making the stock its 14th biggest holding. Sabal Trust CO’s holdings in Prologis were worth $31,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. Dunhill Financial LLC grew its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis during the 3rd quarter valued at $48,000. Coastline Trust Co acquired a new position in Prologis during the third quarter worth $52,000. Finally, Asset Planning Inc bought a new position in shares of Prologis in the fourth quarter valued at $53,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of NYSE:PLD opened at $122.69 on Wednesday. The firm has a market capitalization of $113.72 billion, a PE ratio of 30.67, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $113.07 and a two-hundred day moving average price of $117.99. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.29%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.