Blue Trust Inc. Grows Stake in Prologis, Inc. (NYSE:PLD)

Blue Trust Inc. lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 18.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,573 shares of the real estate investment trust's stock after purchasing an additional 3,887 shares during the period. Blue Trust Inc.'s holdings in Prologis were worth $2,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of 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 last quarter. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter valued at about $48,000. Coastline Trust Co bought a new position in shares of Prologis during the 3rd quarter valued at about $52,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE:PLD traded down $1.02 on Tuesday, hitting $120.23. 3,494,605 shares of the company were exchanged, compared to its average volume of 4,804,889. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock's 50 day moving average price is $110.63 and its 200 day moving average price is $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $111.35 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis's dividend payout ratio is presently 96.00%.

Analyst Ratings Changes

A number of brokerages recently commented on PLD. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Royal Bank of Canada increased their price target on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, BNP Paribas raised shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $128.72.

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.