Prologis, Inc. (NYSE:PLD) Stake Cut by Glenview Trust co

Glenview Trust co decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,105 shares of the real estate investment trust’s stock after selling 763 shares during the period. Glenview Trust co’s holdings in Prologis were worth $5,507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbour Investments Inc. raised its position in shares of Prologis by 257.7% during the 4th quarter. Harbour Investments Inc. now owns 11,139 shares of the real estate investment trust’s stock worth $1,177,000 after purchasing an additional 8,025 shares during the period. one8zero8 LLC acquired a new stake in Prologis in the fourth quarter worth $1,384,000. Choate Investment Advisors increased its position in Prologis by 10.4% in the fourth quarter. Choate Investment Advisors now owns 7,668 shares of the real estate investment trust’s stock worth $811,000 after buying an additional 725 shares during the period. Harrington Investments INC lifted its stake in Prologis by 1.3% in the fourth quarter. Harrington Investments INC now owns 15,562 shares of the real estate investment trust’s stock valued at $1,645,000 after buying an additional 195 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $1,633,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE:PLD opened at $111.98 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $116.89 and a 200-day moving average of $117.46. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.61%. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLD. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

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.