Prologis, Inc. (NYSE:PLD) Stock Position Reduced by Hartline Investment Corp

Hartline Investment Corp lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,822 shares of the real estate investment trust’s stock after selling 506 shares during the period. Hartline Investment Corp’s holdings in Prologis were worth $1,309,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PLD. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Prologis in the 3rd quarter worth approximately $185,164,000. Massachusetts Financial Services Co. MA increased its position 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 acquiring an additional 1,034,211 shares during the period. Envestnet Asset Management Inc. increased its position in Prologis by 43.0% in the 3rd 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 acquiring an additional 721,910 shares during the period. Barclays PLC increased its position in Prologis by 23.0% in the 3rd quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after acquiring an additional 525,171 shares during the period. Finally, Schroder Investment Management Group increased its position in Prologis by 89.8% in the 3rd 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 acquiring an additional 475,229 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.6 %

PLD traded down $1.65 during trading on Wednesday, reaching $103.18. 4,819,335 shares of the stock traded hands, compared to its average volume of 3,472,218. The stock has a market cap of $95.45 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The stock’s 50-day simple moving average is $126.79 and its two-hundred day simple moving average is $122.16.

Prologis Increases Dividend

The business 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. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Argus lowered their target price on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. Evercore ISI lowered their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. Mizuho reiterated a “neutral” rating and set a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Barclays lowered their price target on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price target on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.41.

Prologis 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.