Bahl & Gaynor Inc. Has $278.52 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Bahl & Gaynor Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,089,418 shares of the real estate investment trust’s stock after selling 232,970 shares during the period. Prologis makes up approximately 1.7% of Bahl & Gaynor Inc.’s holdings, making the stock its 20th biggest position. Bahl & Gaynor Inc.’s holdings in Prologis were worth $278,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Family Legacy Inc. boosted its holdings in shares of Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 87 shares in the last quarter. Lockerman Financial Group Inc. boosted its holdings in shares of Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after acquiring an additional 87 shares in the last quarter. Hixon Zuercher LLC boosted its holdings in shares of Prologis by 0.6% in the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after acquiring an additional 88 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 90 shares in the last quarter. Finally, Holistic Financial Partners boosted its holdings in shares of Prologis by 5.3% in the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $104.03 on Friday. The stock has a 50-day moving average price of $125.06 and a two-hundred day moving average price of $121.86. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The stock has a market cap of $96.23 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.15 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 paid a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.69%. 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

Several research firms have issued reports on PLD. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. UBS Group reduced their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $134.24.

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.