James Investment Research Inc. lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,233 shares of the real estate investment trust's stock after selling 10,585 shares during the quarter. James Investment Research Inc.'s holdings in Prologis were worth $2,139,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. AMF Tjanstepension AB grew its holdings in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Creative Planning boosted its holdings in Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust's stock valued at $12,647,000 after acquiring an additional 15,510 shares during the last quarter. NBC Securities Inc. boosted its holdings in Prologis by 20.1% in the third quarter. NBC Securities Inc. now owns 1,848 shares of the real estate investment trust's stock valued at $233,000 after acquiring an additional 309 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Prologis by 17.8% in the third quarter. Global Retirement Partners LLC now owns 16,890 shares of the real estate investment trust's stock valued at $2,133,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Prologis by 18.1% in the third quarter. Bleakley Financial Group LLC now owns 14,990 shares of the real estate investment trust's stock valued at $1,893,000 after acquiring an additional 2,301 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.
Insider Buying and Selling
In related news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction 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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities analysts have issued reports on PLD shares. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.
Check Out Our Latest Stock Analysis on PLD
Prologis Trading Up 0.2 %
Shares of PLD traded up $0.25 during mid-day trading on Wednesday, hitting $121.56. 1,610,320 shares of the company's stock traded hands, compared to its average volume of 3,881,545. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm has a market capitalization of $112.58 billion, a P/E ratio of 30.39, a PEG ratio of 2.70 and a beta of 1.10. The business's 50-day moving average price is $111.98 and its 200-day moving average price is $117.97.
Prologis Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.16%. Prologis's payout ratio is 96.00%.
About Prologis
(
Free Report)
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.
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