Dana Investment Advisors Inc. Reduces Stake in Prologis, Inc. (NYSE:PLD)

Dana Investment Advisors Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 9.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,423 shares of the real estate investment trust’s stock after selling 457 shares during the period. Dana Investment Advisors Inc.’s holdings in Prologis were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Prologis by 534.7% in 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 during the period. Janus Henderson Group PLC lifted its holdings in Prologis by 145.0% in 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 during the period. Cardano Risk Management B.V. acquired a new position in Prologis in the third quarter valued at approximately $109,579,000. Jennison Associates LLC lifted its holdings in Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after acquiring an additional 829,504 shares during the period. Finally, State Street Corp lifted its holdings in Prologis by 1.4% in 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 acquiring an additional 767,609 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of PLD opened at $119.89 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a market capitalization of $111.12 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The stock has a 50 day moving average price of $115.96 and a 200 day moving average price of $117.93.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Scotiabank decreased their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Royal Bank of Canada boosted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas raised 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 assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis 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.