Envestnet Asset Management Inc. Reduces Stake in Prologis, Inc. (NYSE:PLD)

Envestnet Asset Management Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,627,148 shares of the real estate investment trust's stock after selling 79,582 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Prologis worth $277,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter valued at about $26,000. Dunhill Financial LLC grew its holdings in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth approximately $30,000. Finally, Promus Capital LLC acquired a new stake in Prologis during the 4th quarter worth approximately $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of Prologis stock traded down $0.29 during trading hours on Friday, hitting $94.60. 2,107,350 shares of the company were exchanged, compared to its average volume of 4,127,996. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $87.69 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 2.70 and a beta of 1.20. The business has a 50-day moving average of $113.79 and a 200-day moving average of $114.26. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

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Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.27%. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. 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 report on Friday, January 17th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. BNP Paribas raised Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Scotiabank reaffirmed a "sector underperform" rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a report on Monday. Finally, Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average target price of $126.78.

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.