Washington Trust Bank Sells 744 Shares of Prologis, Inc. (NYSE:PLD)

Washington Trust Bank decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,196 shares of the real estate investment trust’s stock after selling 744 shares during the period. Washington Trust Bank’s holdings in Prologis were worth $4,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC raised its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Prologis in the fourth quarter worth $34,000. Promus Capital LLC purchased a new stake in shares of Prologis in the fourth quarter worth $34,000. Finally, Asset Planning Inc bought a new position in shares of Prologis during the fourth quarter valued at $53,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $108.27 on Friday. The company has a 50-day moving average price of $117.54 and a 200-day moving average price of $117.07. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BTIG Research decreased their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

About Prologis

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.