Prologis, Inc. (NYSE:PLD) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its holdings in Prologis, Inc. (NYSE:PLD) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,427 shares of the real estate investment trust’s stock after selling 1,740 shares during the quarter. Griffin Asset Management Inc.’s holdings in Prologis were worth $468,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. YHB Investment Advisors Inc. raised its stake in shares of Prologis by 1.5% during the 4th quarter. YHB Investment Advisors Inc. now owns 27,778 shares of the real estate investment trust’s stock valued at $2,936,000 after buying an additional 409 shares during the last quarter. Vert Asset Management LLC raised its position in Prologis by 12.1% during the fourth quarter. Vert Asset Management LLC now owns 182,621 shares of the real estate investment trust’s stock valued at $19,303,000 after acquiring an additional 19,750 shares in the last quarter. BankPlus Wealth Management LLC acquired a new position in Prologis in the fourth quarter valued at approximately $268,000. Berkshire Bank boosted its position in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. Finally, Baldwin Wealth Partners LLC MA grew its stake in shares of Prologis by 11.7% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 85,251 shares of the real estate investment trust’s stock worth $9,011,000 after purchasing an additional 8,903 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.8 %

Shares of Prologis stock opened at $120.23 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $110.63 and its 200-day simple moving average is $118.41. The stock has a market cap of $111.35 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PLD shares. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $128.72.

Prologis Company 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.