N.E.W. Advisory Services LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

N.E.W. Advisory Services LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,046 shares of the real estate investment trust’s stock after selling 516 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Prologis were worth $806,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLD. Thompson Investment Management Inc. bought a new position in Prologis in the 4th quarter valued at $28,000. Salem Investment Counselors Inc. purchased a new stake in Prologis during the fourth quarter worth about $37,000. FNY Investment Advisers LLC purchased a new position in Prologis in the fourth quarter valued at about $39,000. Valley National Advisers Inc. grew its position in shares of Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 250 shares during the period. Finally, Webster Bank N. A. increased its stake in shares of Prologis by 3,600.0% during the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 324 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PLD shares. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Mizuho reissued a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Raymond James raised their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Finally, Argus lowered their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

Shares of Prologis stock traded down $1.19 on Monday, hitting $104.70. 4,259,743 shares of the company traded hands, compared to its average volume of 3,559,998. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm’s 50-day simple moving average is $121.55 and its 200 day simple moving average is $121.86. The company has a market cap of $96.94 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.20 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 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.