Prologis, Inc. (NYSE:PLD) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 18.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,551 shares of the real estate investment trust’s stock after selling 1,461 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $853,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLD. Kestra Advisory Services LLC acquired a new position in shares of Prologis during the third quarter worth about $260,000. O Shaughnessy Asset Management LLC grew its position in shares of Prologis by 18.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 47,260 shares of the real estate investment trust’s stock worth $5,303,000 after buying an additional 7,475 shares in the last quarter. Mather Group LLC. grew its position in shares of Prologis by 4.6% during the third quarter. Mather Group LLC. now owns 5,742 shares of the real estate investment trust’s stock worth $644,000 after buying an additional 254 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 250 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Prologis by 12.9% in the third quarter. Bank of Nova Scotia now owns 92,178 shares of the real estate investment trust’s stock valued at $10,343,000 after purchasing an additional 10,526 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of Prologis stock traded up $0.94 during trading hours on Thursday, hitting $111.35. 2,940,048 shares of the company were exchanged, compared to its average volume of 3,750,776. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $107.83 and a 200-day moving average of $121.97. The stock has a market capitalization of $103.09 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 2.45 and a beta of 1.07.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Argus lowered their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.