Fisher Asset Management LLC Sells 1,874 Shares of Prologis, Inc. (NYSE:PLD)

Fisher Asset Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,014 shares of the real estate investment trust’s stock after selling 1,874 shares during the quarter. Fisher Asset Management LLC’s holdings in Prologis were worth $1,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principle Wealth Partners LLC increased its position in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC increased its position in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after acquiring an additional 93 shares during the period. Carmel Capital Partners LLC increased its holdings in Prologis by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the period. Berkshire Bank increased its holdings in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares during the period. Finally, Bridgewater Associates LP increased its holdings in Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 103 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.9 %

Shares of NYSE PLD opened at $124.08 on Thursday. The firm’s 50-day simple moving average is $115.40 and its 200 day simple moving average is $118.03. The company has a market cap of $115.00 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.26%. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

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.