Blue Trust Inc. Sells 5,143 Shares of Prologis, Inc. (NYSE:PLD)

Blue Trust Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 24.9% during the fourth quarter, HoldingsChannel reports. The firm owned 15,543 shares of the real estate investment trust’s stock after selling 5,143 shares during the quarter. Blue Trust Inc.’s holdings in Prologis were worth $1,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLD. ASB Consultores LLC boosted its holdings in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares in the last quarter. Principle Wealth Partners LLC raised its position in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. DT Investment Partners LLC boosted its stake in shares of Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Berkshire Bank increased its stake in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $120.84 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The firm has a market cap of $111.92 billion, a PE ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. The business has a 50 day moving average of $111.71 and a 200-day moving average of $118.15. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several recent research reports. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.