Synovus Financial Corp Buys 790 Shares of Prologis, Inc. (NYSE:PLD)

Synovus Financial Corp increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 20.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,659 shares of the real estate investment trust’s stock after acquiring an additional 790 shares during the period. Synovus Financial Corp’s holdings in Prologis were worth $588,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the 2nd quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter valued at $26,000. Dunhill Financial LLC grew its position in shares of 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 acquiring an additional 182 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis in the 2nd quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.0 %

Shares of PLD stock opened at $108.86 on Wednesday. The stock has a 50 day simple moving average of $116.01 and a 200 day simple moving average of $119.20. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $100.82 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. On average, research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, December 16th. Prologis’s payout ratio is presently 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Raymond James reissued an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Scotiabank cut their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Truist Financial cut their target price on shares of Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Hold” and an average price target of $128.88.

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.