Blair William & Co. IL Lowers Position in Prologis, Inc. (NYSE:PLD)

Blair William & Co. IL decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 20.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,348 shares of the real estate investment trust’s stock after selling 6,419 shares during the quarter. Blair William & Co. IL’s holdings in Prologis were worth $2,679,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Townsquare Capital LLC raised its position in shares of Prologis by 12.5% during the 3rd quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust’s stock valued at $1,933,000 after buying an additional 1,705 shares in the last quarter. Bridgewater Associates LP raised its position in Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Prologis during the third quarter valued at about $16,052,000. Benjamin Edwards Inc. lifted its stake in Prologis by 736.6% during the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 20,815 shares during the last quarter. Finally, Hilltop Holdings Inc. boosted its holdings in shares of Prologis by 290.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock worth $4,042,000 after purchasing an additional 23,816 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Price Performance

PLD stock opened at $111.79 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The firm has a 50-day moving average of $117.78 and a 200 day moving average of $116.11. The company has a market cap of $103.61 billion, a P/E ratio of 27.95, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLD. Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. 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, Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.