Fifth Third Bancorp Sells 12,851 Shares of Prologis, Inc. (NYSE:PLD)

Fifth Third Bancorp reduced its stake in Prologis, Inc. (NYSE:PLD) by 8.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 134,686 shares of the real estate investment trust’s stock after selling 12,851 shares during the quarter. Fifth Third Bancorp’s holdings in Prologis were worth $14,236,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cottonwood Capital Advisors LLC lifted its position in shares of Prologis by 19.6% during the 4th quarter. Cottonwood Capital Advisors LLC now owns 2,053 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 337 shares in the last quarter. Presima Securities ULC increased its position in shares of Prologis by 31.1% during the 4th quarter. Presima Securities ULC now owns 412,660 shares of the real estate investment trust’s stock valued at $43,618,000 after purchasing an additional 97,833 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Prologis by 15.0% during the 4th quarter. RFG Advisory LLC now owns 25,840 shares of the real estate investment trust’s stock worth $2,731,000 after purchasing an additional 3,379 shares during the period. Brighton Jones LLC boosted its holdings in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 15,078 shares during the last quarter. Finally, Apeiron RIA LLC bought a new position in Prologis during the fourth quarter valued at about $216,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD opened at $118.90 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market capitalization of $110.12 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The stock’s 50 day moving average price is $110.49 and its 200-day moving average price is $118.37. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PLD shares. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Scotiabank dropped their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.67.

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.