Prologis, Inc. (NYSE:PLD) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,889 shares of the real estate investment trust’s stock after selling 637 shares during the period. Foster & Motley Inc.’s holdings in Prologis were worth $252,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. FMR LLC lifted its stake in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares in the last quarter. Northern Trust Corp lifted its stake in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Prologis by 2.3% during the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after acquiring an additional 268,667 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock worth $1,048,551,000 after acquiring an additional 121,159 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays cut their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Royal Bank of Canada increased their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Price Performance

Shares of PLD opened at $103.18 on Thursday. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a market capitalization of $95.45 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm has a 50-day simple moving average of $126.24 and a 200-day simple moving average of $122.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.72%. Prologis’s dividend payout ratio is 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.