Fifth Third Wealth Advisors LLC raised its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,948 shares of the real estate investment trust’s stock after acquiring an additional 431 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC increased its position in Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after acquiring an additional 54,914 shares during the last quarter. Jump Financial LLC bought a new position in Prologis during the first quarter valued at $2,120,000. Truist Financial Corp increased its position in Prologis by 9.3% during the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after acquiring an additional 25,229 shares during the last quarter. Ally Financial Inc. increased its position in Prologis by 16.7% during the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Prologis by 2.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock valued at $33,249,000 after acquiring an additional 6,350 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
Prologis Stock Down 2.8%
NYSE:PLD opened at $111.29 on Friday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $127.65. The company has a 50-day moving average of $111.79 and a 200 day moving average of $107.76. The firm has a market cap of $103.35 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.
Prologis Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio is presently 109.49%.
Insider Activity
In related news, CAO Lori A. Palazzolo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total transaction of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,500 shares of company stock valued at $2,952,095. Insiders own 0.57% of the company’s stock.
Analyst Ratings Changes
PLD has been the topic of a number of analyst reports. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an “overweight” rating in a research note on Sunday, July 13th. Finally, Citigroup lowered their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.58.
Read Our Latest Stock Analysis on Prologis
Prologis 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.
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