Prologis, Inc. (NYSE:PLD) Stake Lessened by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,046 shares of the real estate investment trust’s stock after selling 516 shares during the period. N.E.W. Advisory Services LLC’s holdings in Prologis were worth $806,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLD. Thompson Investment Management Inc. acquired a new stake in Prologis during the fourth quarter valued at approximately $28,000. Salem Investment Counselors Inc. acquired a new stake in Prologis during the 4th quarter worth about $37,000. FNY Investment Advisers LLC acquired a new position in shares of Prologis in the fourth quarter worth about $39,000. Webster Bank N. A. raised its holdings in shares of Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 324 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Prologis in the 4th quarter worth approximately $45,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.19 during trading hours on Monday, hitting $104.70. 4,259,743 shares of the stock were exchanged, compared to its average volume of 3,559,998. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company’s 50 day moving average is $121.55 and its 200 day moving average is $121.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $96.94 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.67%. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLD. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. UBS Group dropped their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Argus decreased their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Company 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.