Phillips Wealth Planners LLC Sells 469 Shares of Prologis, Inc. (NYSE:PLD)

Phillips Wealth Planners LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,750 shares of the real estate investment trust’s stock after selling 469 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Prologis were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its position in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Prologis by 547.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after acquiring an additional 874,411 shares in the last quarter. Finally, Cardano Risk Management B.V. bought a new position in shares of Prologis in the 3rd quarter worth approximately $109,579,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLD. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Performance

Shares of PLD opened at $115.16 on Thursday. The business’s fifty day simple moving average is $110.34 and its two-hundred day simple moving average is $118.36. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a market cap of $106.66 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 3.01 and a beta of 1.09.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.