Prologis, Inc. (NYSE:PLD) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,920 shares of the real estate investment trust’s stock after selling 303 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Prologis were worth $1,855,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC grew its position in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares during the last quarter. Northern Trust Corp increased its position in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after buying an additional 92,036 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Prologis by 2.3% during the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after buying an additional 268,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Prologis by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock worth $1,048,551,000 after buying an additional 121,159 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD stock opened at $104.53 on Friday. The company has a market cap of $96.78 billion, a P/E ratio of 30.56, a PEG ratio of 2.12 and a beta of 1.05. The business has a 50 day moving average of $122.66 and a two-hundred day moving average of $121.66. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLD shares. Robert W. Baird cut their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday. Argus dropped their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group cut their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, UBS Group dropped their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.35.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.