Prologis, Inc. (NYSE:PLD) Holdings Trimmed by Glenview Trust co

Glenview Trust co reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,105 shares of the real estate investment trust’s stock after selling 763 shares during the quarter. Glenview Trust co’s holdings in Prologis were worth $5,507,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the 4th quarter valued at $30,000. Promus Capital LLC acquired a new position in shares of Prologis in the fourth quarter worth $34,000. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter worth $34,000. Finally, Coastline Trust Co acquired a new stake in Prologis during the third quarter valued at $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PLD shares. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

PLD opened at $111.98 on Monday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm has a market capitalization of $103.79 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock’s 50 day moving average price is $116.89 and its two-hundred day moving average price is $117.46. 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. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

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.