Great Lakes Advisors LLC Has $79.74 Million Holdings in Prologis, Inc. (NYSE:PLD)

Great Lakes Advisors LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 754,355 shares of the real estate investment trust’s stock after selling 27,014 shares during the quarter. Great Lakes Advisors LLC owned 0.08% of Prologis worth $79,735,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. raised its position in Prologis by 77.1% during the third quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock valued at $6,714,000 after purchasing an additional 23,140 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Prologis by 104.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,298 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 4,233 shares during the last quarter. Sigma Planning Corp increased its stake in Prologis by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock valued at $986,000 after buying an additional 372 shares during the last quarter. Tyler Stone Wealth Management increased its stake in Prologis by 158.7% in the 3rd quarter. Tyler Stone Wealth Management now owns 2,191 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 1,344 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Prologis in the 3rd quarter valued at about $209,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLD. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho decreased their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 0.4 %

Shares of PLD stock opened at $117.39 on Wednesday. The firm has a market cap of $108.81 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a 50-day moving average of $116.45 and a two-hundred day moving average of $117.79.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.44%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.