Prologis, Inc. (NYSE:PLD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in Prologis, Inc. (NYSE:PLD) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,853,682 shares of the real estate investment trust’s stock after selling 419,179 shares during the period. Prologis accounts for 0.9% of Russell Investments Group Ltd.’s holdings, making the stock its 11th largest position. Russell Investments Group Ltd. owned about 0.42% of Prologis worth $514,525,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the fourth quarter worth approximately $28,000. FinTrust Capital Advisors LLC boosted its stake in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis in the fourth quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis in the fourth quarter worth approximately $39,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 250 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent research reports. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Argus lowered their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group lowered their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.24.

Prologis Stock Up 0.7 %

NYSE PLD traded up $0.71 during trading hours on Friday, hitting $104.06. 4,037,744 shares of the company were exchanged, compared to its average volume of 4,340,292. The company has a 50 day moving average of $125.06 and a two-hundred day moving average of $121.86. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $96.26 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is currently 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.