Bahl & Gaynor Inc. Sells 90,474 Shares of Prologis, Inc. (NYSE:PLD)

Bahl & Gaynor Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,438,299 shares of the real estate investment trust’s stock after selling 90,474 shares during the quarter. Bahl & Gaynor Inc. owned 0.16% of Prologis worth $152,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC raised its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis during the 4th quarter worth about $34,000. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co acquired a new stake in shares of Prologis in the third quarter valued at about $52,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent analyst reports. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

NYSE PLD opened at $123.48 on Tuesday. The company has a market cap of $114.45 billion, a P/E ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The company has a fifty day simple moving average of $114.66 and a 200 day simple moving average of $118.00. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued 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 3.27%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.