Bahl & Gaynor Inc. Sells 232,970 Shares of Prologis, Inc. (NYSE:PLD)

Bahl & Gaynor Inc. cut its position in Prologis, Inc. (NYSE:PLD) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,089,418 shares of the real estate investment trust’s stock after selling 232,970 shares during the quarter. Prologis makes up approximately 1.7% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 20th largest holding. Bahl & Gaynor Inc. owned about 0.23% of Prologis worth $278,519,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new stake in shares of Prologis during the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC grew its stake in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Prologis during the fourth quarter worth about $37,000. FNY Investment Advisers LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $39,000. Finally, Valley National Advisers Inc. grew its stake in shares of Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 250 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 0.7 %

Prologis stock opened at $104.03 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock’s 50 day simple moving average is $125.06 and its two-hundred day simple moving average is $121.86. The firm has a market cap of $96.23 billion, a PE ratio of 30.42, a P/E/G ratio of 2.15 and a beta of 1.00.

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 represents a $3.84 annualized dividend and a dividend yield of 3.69%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. UBS Group dropped their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Robert W. Baird upped their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group dropped their target price on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.24.

Prologis 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.