Raymond James Trust N.A. Has $2.73 Million Holdings in Prologis, Inc. (NYSE:PLD)

Raymond James Trust N.A. raised its position in Prologis, Inc. (NYSE:PLD) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,274 shares of the real estate investment trust’s stock after purchasing an additional 842 shares during the period. Raymond James Trust N.A.’s holdings in Prologis were worth $2,726,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PLD. Optimum Investment Advisors bought a new stake in Prologis during the first quarter valued at $26,000. True Wealth Design LLC acquired a new stake in Prologis during the fourth quarter worth approximately $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the 2nd quarter worth about $29,000. JFS Wealth Advisors LLC grew its stake in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its position in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.19.

Prologis Price Performance

Shares of Prologis stock traded up $0.31 during trading on Monday, hitting $129.17. The stock had a trading volume of 109,431 shares, compared to its average volume of 3,645,145. The firm has a market cap of $119.59 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The business’s 50-day moving average is $119.24 and its 200 day moving average is $119.16. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $1.83 EPS. The business’s revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.43 earnings per share for the current year.

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.