Sanibel Captiva Trust Company Inc. Buys 278 Shares of Prologis, Inc. (NYSE:PLD)

Sanibel Captiva Trust Company Inc. raised its stake in Prologis, Inc. (NYSE:PLD) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,902 shares of the real estate investment trust’s stock after buying an additional 278 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Prologis were worth $518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter valued at approximately $27,000. Dunhill Financial LLC boosted its stake 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 purchasing an additional 182 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Hara Capital LLC bought a new position in Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the third quarter valued at $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $109.51 on Monday. The company has a fifty day moving average price of $110.34 and a 200-day moving average price of $118.33. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Monday, January 6th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

About Prologis

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.