Bailard Inc. Decreases Stake in Prologis, Inc. (NYSE:PLD)

Bailard Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,502 shares of the real estate investment trust’s stock after selling 3,031 shares during the quarter. Bailard Inc.’s holdings in Prologis were worth $10,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. HM Payson & Co. raised its position in shares of Prologis by 20.4% in the 3rd quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 100 shares during the last quarter. Stephens Inc. AR raised its position in shares of Prologis by 2.3% in the 3rd quarter. Stephens Inc. AR now owns 52,631 shares of the real estate investment trust’s stock valued at $6,646,000 after purchasing an additional 1,173 shares during the last quarter. Principal Securities Inc. raised its position in shares of Prologis by 16.7% in the 3rd quarter. Principal Securities Inc. now owns 21,259 shares of the real estate investment trust’s stock valued at $2,685,000 after purchasing an additional 3,045 shares during the last quarter. Focus Financial Network Inc. purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $299,000. Finally, Gladstone Institutional Advisory LLC raised its position in Prologis by 3.7% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 144 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Prologis stock opened at $123.88 on Friday. The company’s fifty day moving average price is $114.28 and its 200 day moving average price is $118.05. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market capitalization of $114.82 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Wolfe Research reduced their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Company 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.