Forvis Mazars Wealth Advisors LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

Forvis Mazars Wealth Advisors LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,581 shares of the real estate investment trust’s stock after selling 338 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Prologis were worth $273,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. AMF Tjanstepension AB increased its holdings in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Prologis by 9,354.5% in the 3rd quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust’s stock valued at $54,920,000 after purchasing an additional 430,308 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Prologis by 14.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust’s stock valued at $3,603,000 after purchasing an additional 3,614 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Prologis by 0.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,210 shares of the real estate investment trust’s stock valued at $5,835,000 after purchasing an additional 327 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of Prologis by 5.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 7,997 shares of the real estate investment trust’s stock valued at $1,010,000 after purchasing an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLD shares. Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank dropped their target price 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. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

PLD opened at $120.71 on Tuesday. The stock has a market capitalization of $111.88 billion, a PE ratio of 30.18, a P/E/G ratio of 2.70 and a beta of 1.10. 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 1 year low of $100.82 and a 1 year high of $135.76. The company’s 50 day simple moving average is $112.80 and its 200 day simple moving average is $117.98.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.35%. 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 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, 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 accessible through this hyperlink. 0.56% of the stock is currently owned by corporate 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.