Financial Counselors Inc. Sells 16,161 Shares of Prologis, Inc. (NYSE:PLD)

Financial Counselors Inc. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,243 shares of the real estate investment trust's stock after selling 16,161 shares during the period. Financial Counselors Inc.'s holdings in Prologis were worth $12,287,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter worth about $30,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the 3rd 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 during the period. Finally, Whipplewood Advisors LLC bought a new position in shares of Prologis in the 4th quarter valued at about $34,000. Institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

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Prologis Stock Up 1.2 %

NYSE PLD traded up $1.34 on Monday, reaching $111.79. The company had a trading volume of 5,071,197 shares, compared to its average volume of 3,919,634. The company's fifty day moving average is $117.78 and its 200-day moving average is $116.11. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm has a market capitalization of $103.61 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. Raymond James reissued a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis 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.