Hardman Johnston Global Advisors LLC Sells 400 Shares of Prologis, Inc. (NYSE:PLD)

Hardman Johnston Global Advisors LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,002 shares of the real estate investment trust’s stock after selling 400 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Prologis were worth $2,960,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Waverton Investment Management Ltd increased its position in shares of Prologis by 61.7% during the 4th quarter. Waverton Investment Management Ltd now owns 510,899 shares of the real estate investment trust’s stock valued at $54,010,000 after purchasing an additional 194,923 shares during the last quarter. Dover Advisors LLC increased its position in shares of Prologis by 22.5% during the 4th quarter. Dover Advisors LLC now owns 5,336 shares of the real estate investment trust’s stock valued at $564,000 after purchasing an additional 979 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Prologis by 29.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 618 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 140 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Prologis by 30.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 45,977 shares of the real estate investment trust’s stock valued at $4,860,000 after acquiring an additional 10,719 shares during the period. Finally, Black Diamond Financial LLC boosted its holdings in Prologis by 2.2% during 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 acquiring an additional 93 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Trading Up 0.1 %

PLD opened at $121.01 on Monday. The stock has a market cap of $112.16 billion, a PE ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $112.56 and a 200-day moving average of $117.99. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The business also recently disclosed 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 represents a $4.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 96.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average 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.