Intrust Bank NA Lowers Position in Prologis, Inc. (NYSE:PLD)

Intrust Bank NA cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,815 shares of the real estate investment trust’s stock after selling 2,925 shares during the quarter. Intrust Bank NA’s holdings in Prologis were worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Thompson Investment Management Inc. purchased a new position in shares of Prologis during the 4th quarter worth $28,000. FinTrust Capital Advisors LLC grew its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares during the period. Salem Investment Counselors Inc. purchased a new position in Prologis during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC purchased a new position in Prologis during the 4th quarter valued at about $39,000. Finally, Valley National Advisers Inc. boosted its holdings in Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 250 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. Argus lowered their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Evercore ISI reduced their price target 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. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Royal Bank of Canada increased 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. Finally, Barclays cut their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.53.

Prologis Price Performance

Shares of Prologis stock traded up $0.95 during trading on Monday, reaching $105.01. The company’s stock had a trading volume of 2,840,501 shares, compared to its average volume of 3,460,879. The business has a 50 day moving average price of $125.06 and a 200-day moving average price of $122.01. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $97.22 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

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 given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

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.