Washington Trust Advisors Inc. Acquires 120 Shares of Prologis, Inc. (NYSE:PLD)

Washington Trust Advisors Inc. increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,112 shares of the real estate investment trust’s stock after acquiring an additional 120 shares during the period. Washington Trust Advisors Inc.’s holdings in Prologis were worth $752,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Beacon Harbor Wealth Advisors Inc. grew its position in Prologis by 3.6% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 63,058 shares of the real estate investment trust’s stock worth $6,665,000 after acquiring an additional 2,218 shares during the last quarter. Black Swift Group LLC bought a new stake in Prologis during the 4th quarter worth approximately $967,000. Raymond James Financial Inc. bought a new stake in Prologis during the 4th quarter worth approximately $254,876,000. Promus Capital LLC bought a new position in Prologis in the 4th quarter valued at $34,000. Finally, Arizona State Retirement System boosted its position in Prologis by 0.7% in the 4th quarter. Arizona State Retirement System now owns 267,402 shares of the real estate investment trust’s stock valued at $28,264,000 after buying an additional 1,941 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLD. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of Prologis stock opened at $124.08 on Thursday. The stock’s fifty day simple moving average is $115.40 and its 200 day simple moving average is $118.03. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a market capitalization of $115.00 billion, a PE ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase 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 dividend yield of 3.26%. Prologis’s dividend payout ratio (DPR) is currently 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.