PDS Planning Inc Cuts Stake in Prologis, Inc. (NYSE:PLD)

PDS Planning Inc reduced its stake in Prologis, Inc. (NYSE:PLD) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,704 shares of the real estate investment trust’s stock after selling 706 shares during the period. PDS Planning Inc’s holdings in Prologis were worth $627,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PLD. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Prologis in the third quarter worth $185,164,000. Massachusetts Financial Services Co. MA boosted its position in shares of Prologis by 6.7% during the third 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 last quarter. Envestnet Asset Management Inc. boosted its position in shares of Prologis by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after buying an additional 721,910 shares during the last quarter. Barclays PLC boosted its position in shares of Prologis by 23.0% during the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after buying an additional 525,171 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Prologis by 89.8% during the third quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock valued at $112,741,000 after buying an additional 475,229 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Evercore ISI decreased their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley raised their price objective on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Argus decreased their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays decreased their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $135.41.

Prologis Price Performance

Shares of Prologis stock traded up $0.64 during mid-day trading on Tuesday, reaching $104.72. 1,151,264 shares of the stock traded hands, compared to its average volume of 3,412,431. The business has a 50-day moving average of $127.31 and a 200 day moving average of $122.19. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The stock has a market capitalization of $96.87 billion, a PE ratio of 30.55, a PEG ratio of 2.08 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

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

Prologis Company Profile

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.