Synovus Financial Corp Acquires 3,032 Shares of Prologis, Inc. $PLD

Key Points

• Synovus Financial Corp increased its holdings in Prologis, Inc. by 80.7%, now owning 6,788 shares valued at approximately $759,000.
• Prologis saw significant increases in investment from other institutions, with First Citizens Bank & Trust Co boosting its holdings by 1,451.2% during the same quarter.
• Prologis reported $1.46 earnings per share for the last quarter, exceeding analysts' expectations and showcasing an 8.8% revenue increase year-over-year.

Synovus Financial Corp lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 80.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,788 shares of the real estate investment trust's stock after acquiring an additional 3,032 shares during the period. Synovus Financial Corp's holdings in Prologis were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PLD. Brighton Jones LLC grew its holdings in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. Lido Advisors LLC grew its holdings in Prologis by 98.0% in the 4th quarter. Lido Advisors LLC now owns 42,305 shares of the real estate investment trust's stock valued at $4,472,000 after buying an additional 20,940 shares during the last quarter. AQR Capital Management LLC grew its holdings in Prologis by 49.9% in the 4th quarter. AQR Capital Management LLC now owns 358,298 shares of the real estate investment trust's stock valued at $37,836,000 after buying an additional 119,297 shares during the last quarter. Utah Retirement Systems grew its holdings in Prologis by 0.3% in the 4th quarter. Utah Retirement Systems now owns 153,244 shares of the real estate investment trust's stock valued at $16,198,000 after buying an additional 500 shares during the last quarter. Finally, Adelante Capital Management LLC grew its holdings in Prologis by 1,470.5% in the 4th quarter. Adelante Capital Management LLC now owns 1,400,344 shares of the real estate investment trust's stock valued at $148,017,000 after buying an additional 1,311,179 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock traded up $1.29 during midday trading on Friday, hitting $113.93. 2,827,596 shares of the company were exchanged, compared to its average volume of 3,184,747. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $105.76 billion, a P/E ratio of 30.88, a PEG ratio of 2.85 and a beta of 1.21. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The firm has a 50 day simple moving average of $107.91 and a 200-day simple moving average of $108.60.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. Prologis's dividend payout ratio (DPR) is presently 109.49%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLD. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Robert W. Baird decreased their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.83.

Insider Activity at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

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.