Patriot Financial Group Insurance Agency LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Patriot Financial Group Insurance Agency LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,350 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Prologis were worth $460,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Empirical Asset Management LLC increased its holdings in shares of Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in Prologis in the 3rd quarter worth $249,000. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in Prologis in the 2nd quarter worth $878,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday. Barclays boosted 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. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Trading Down 0.7 %

Shares of PLD stock opened at $119.35 on Thursday. The stock has a market cap of $110.53 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company’s 50-day moving average price is $110.73 and its 200-day moving average price is $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.22%. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

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.