Great Lakes Advisors LLC Decreases Stake in Prologis, Inc. (NYSE:PLD)

Great Lakes Advisors LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754,355 shares of the real estate investment trust’s stock after selling 27,014 shares during the quarter. Great Lakes Advisors LLC’s holdings in Prologis were worth $79,735,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PLD. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter valued at approximately $30,000. Dunhill Financial LLC grew its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter worth about $34,000. Promus Capital LLC acquired a new position in Prologis during the fourth quarter worth about $34,000. Finally, Coastline Trust Co purchased a new position in Prologis in the 3rd quarter worth about $52,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of several research reports. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $117.39 on Wednesday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.27. The stock’s 50 day moving average price is $116.45 and its 200-day moving average price is $117.79. The company has a market capitalization of $108.81 billion, a PE ratio of 29.35, a PEG ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.44%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Prologis 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.