Busey Bank Sells 93 Shares of Prologis, Inc. (NYSE:PLD)

Busey Bank decreased its stake in Prologis, Inc. (NYSE:PLD) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,795 shares of the real estate investment trust’s stock after selling 93 shares during the period. Busey Bank’s holdings in Prologis were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLD. State Street Corp raised its position in 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 purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% during the 3rd 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 buying an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB lifted its position in Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after buying an additional 80,575 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.3 %

Shares of NYSE:PLD opened at $120.66 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market capitalization of $111.75 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. The stock has a 50 day moving average price of $110.83 and a 200-day moving average price of $118.42.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Raymond James restated an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.