Adams Diversified Equity Fund Inc. Sells 70,600 Shares of Prologis, Inc. (NYSE:PLD)

Adams Diversified Equity Fund Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 54.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,000 shares of the real estate investment trust’s stock after selling 70,600 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Prologis were worth $6,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Principle Wealth Partners LLC lifted its position in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC raised 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 in the last quarter. Berkshire Bank raised its position in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 95 shares in the last quarter. J.Safra Asset Management Corp raised its position in 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 acquiring an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in 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 acquiring an additional 103 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PLD. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Mizuho dropped their price target on shares of 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 dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Scotiabank dropped their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, Royal Bank of Canada upped their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 0.9 %

PLD stock opened at $112.01 on Friday. 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’s 50-day simple moving average is $117.44 and its 200 day simple moving average is $117.21. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a market capitalization of $103.81 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. Prologis’s dividend payout ratio is 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.