Bailard Inc. Sells 3,031 Shares of Prologis, Inc. (NYSE:PLD)

Bailard Inc. reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,502 shares of the real estate investment trust's stock after selling 3,031 shares during the period. Bailard Inc.'s holdings in Prologis were worth $10,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. HM Payson & Co. lifted its stake in shares of Prologis by 20.4% during the third quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust's stock worth $74,000 after buying an additional 100 shares during the period. Stephens Inc. AR lifted its stake in shares of Prologis by 2.3% during the third quarter. Stephens Inc. AR now owns 52,631 shares of the real estate investment trust's stock worth $6,646,000 after buying an additional 1,173 shares during the period. Principal Securities Inc. lifted its stake in shares of Prologis by 16.7% during the third quarter. Principal Securities Inc. now owns 21,259 shares of the real estate investment trust's stock worth $2,685,000 after buying an additional 3,045 shares during the period. Focus Financial Network Inc. acquired a new stake in shares of Prologis during the third quarter worth $299,000. Finally, Gladstone Institutional Advisory LLC lifted its stake in shares of Prologis by 3.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust's stock worth $509,000 after buying an additional 144 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

Prologis Trading Up 0.9 %

PLD stock traded up $1.11 during midday trading on Friday, reaching $123.88. 5,562,229 shares of the company's stock traded hands, compared to its average volume of 3,851,597. The company has a market capitalization of $114.82 billion, a P/E ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The business has a 50-day moving average price of $114.28 and a two-hundred day moving average price of $118.01.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change 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 yield of 3.26%. Prologis's payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLD. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, Scotiabank decreased their target price on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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.