Prologis, Inc. (NYSE:PLD) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its stake in Prologis, Inc. (NYSE:PLD) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,889 shares of the real estate investment trust’s stock after selling 637 shares during the quarter. Foster & Motley Inc.’s holdings in Prologis were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLD. Strategic Blueprint LLC boosted its holdings in shares of Prologis by 7.4% in the 3rd quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 140 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Prologis by 3.8% during the 3rd quarter. Proficio Capital Partners LLC now owns 3,165 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 115 shares during the period. UMB Bank n.a. increased its holdings in Prologis by 3.1% in the 3rd quarter. UMB Bank n.a. now owns 109,672 shares of the real estate investment trust’s stock valued at $12,306,000 after purchasing an additional 3,280 shares in the last quarter. Opal Wealth Advisors LLC raised its position in Prologis by 16.1% in the third quarter. Opal Wealth Advisors LLC now owns 1,937 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 268 shares during the period. Finally, Czech National Bank lifted its stake in shares of Prologis by 47.7% during the third quarter. Czech National Bank now owns 161,473 shares of the real estate investment trust’s stock worth $18,119,000 after purchasing an additional 52,154 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLD. Barclays decreased their target price on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $112.00 in a research report on Monday. The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday. Robert W. Baird upped their target price on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Finally, TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.41.

Prologis Trading Down 1.6 %

Shares of PLD opened at $103.18 on Thursday. The stock has a 50-day moving average price of $126.24 and a 200 day moving average price of $122.03. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market capitalization of $95.45 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.72%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 112.28%.

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.