Farther Finance Advisors LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Farther Finance Advisors LLC trimmed its stake in Prologis, Inc. (NYSE:PLD) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,123 shares of the real estate investment trust’s stock after selling 1,723 shares during the period. Farther Finance Advisors LLC’s holdings in Prologis were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PLD. EverSource Wealth Advisors LLC grew its stake in Prologis by 228.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,253 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 2,264 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Prologis by 5.7% in the 4th quarter. HighTower Advisors LLC now owns 179,534 shares of the real estate investment trust’s stock worth $18,977,000 after buying an additional 9,606 shares during the period. Natural Investments LLC bought a new position in shares of Prologis during the 4th quarter worth $1,819,000. Tortoise Investment Management LLC increased its stake in shares of Prologis by 22.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,391 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 252 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Prologis by 8.3% in the fourth quarter. Independent Advisor Alliance now owns 16,299 shares of the real estate investment trust’s stock valued at $1,723,000 after acquiring an additional 1,245 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLD shares. Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Barclays upped their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. 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 issued a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Up 1.5 %

Shares of PLD stock opened at $111.98 on Friday. The stock has a market capitalization of $103.79 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a 50 day moving average price of $116.89 and a 200 day moving average price of $117.53.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

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.