Stock Yards Bank & Trust Co. Has $261,000 Holdings in Prologis, Inc. (NYSE:PLD)

Stock Yards Bank & Trust Co. cut its position in shares of Prologis, Inc. (NYSE:PLD) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,955 shares of the real estate investment trust’s stock after selling 391 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Prologis were worth $261,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the fourth quarter worth $28,000. FinTrust Capital Advisors LLC grew its holdings in Prologis by 966.7% in the third 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. acquired a new stake in Prologis in the fourth quarter worth $37,000. FNY Investment Advisers LLC acquired a new stake in Prologis in the fourth quarter worth $39,000. Finally, Valley National Advisers Inc. grew its holdings in Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $103.18 on Thursday. The company’s 50 day moving average is $126.24 and its 200-day moving average is $122.03. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The firm has a market cap of $95.45 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Prologis Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on PLD shares. Barclays reduced their price target on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.