Haverford Trust Co Trims Holdings in Prologis, Inc. (NYSE:PLD)

Haverford Trust Co reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,350 shares of the real estate investment trust’s stock after selling 206 shares during the period. Haverford Trust Co’s holdings in Prologis were worth $248,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Principle Wealth Partners LLC increased its position in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC grew its stake in shares of Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the last quarter. Berkshire Bank increased its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 103 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLD shares. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Robert W. Baird lifted their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Prologis stock opened at $109.32 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The company has a market capitalization of $101.32 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.70 and a beta of 1.09. The stock has a fifty day moving average of $117.66 and a two-hundred day moving average of $116.67. 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 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 $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.70%. Prologis’s payout ratio is presently 101.00%.

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.