Blair William & Co. IL Sells 6,419 Shares of Prologis, Inc. (NYSE:PLD)

Blair William & Co. IL trimmed its stake in Prologis, Inc. (NYSE:PLD) by 20.2% during the 4th quarter, HoldingsChannel reports. The fund owned 25,348 shares of the real estate investment trust’s stock after selling 6,419 shares during the quarter. Blair William & Co. IL’s holdings in Prologis were worth $2,679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its position in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after acquiring an additional 173,531 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock worth $631,266,000 after acquiring an additional 32,644 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Prologis by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,860,935 shares of the real estate investment trust’s stock valued at $619,501,000 after acquiring an additional 85,575 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PLD shares. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $111.79 on Tuesday. The company has a market capitalization of $103.61 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The business’s fifty day moving average is $117.78 and its 200 day moving average is $116.11. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

About Prologis

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.