Zacks Investment Management Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Zacks Investment Management lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 476,488 shares of the real estate investment trust’s stock after selling 6,990 shares during the period. Zacks Investment Management’s holdings in Prologis were worth $50,365,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the 4th quarter valued at about $34,000. Finally, Promus Capital LLC purchased a new stake in Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Scotiabank reiterated a “sector underperform” rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Stock Up 0.1 %

Shares of NYSE:PLD opened at $98.42 on Wednesday. The company has a market capitalization of $91.23 billion, a PE ratio of 24.60, a P/E/G ratio of 2.70 and a beta of 1.20. 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 52 week low of $85.35 and a 52 week high of $132.57. The company’s fifty day moving average is $112.53 and its 200-day moving average is $113.68.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling

In other 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 value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

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.