Harel Insurance Investments & Financial Services Ltd. Cuts Position in Prologis, Inc. (NYSE:PLD)

Harel Insurance Investments & Financial Services Ltd. reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 613 shares of the real estate investment trust’s stock after selling 325 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Prologis were worth $65,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho dropped their target price 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. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Scotiabank dropped their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Price Performance

NYSE:PLD opened at $118.90 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock’s 50-day moving average price is $110.49 and its 200-day moving average price is $118.37. The stock has a market capitalization of $110.12 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

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.