James Investment Research Inc. Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

James Investment Research Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 20,233 shares of the real estate investment trust’s stock after selling 10,585 shares during the period. James Investment Research Inc.’s holdings in Prologis were worth $2,139,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PLD. AMF Tjanstepension AB boosted its holdings in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. Creative Planning lifted its holdings in Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock worth $12,647,000 after buying an additional 15,510 shares during the period. NBC Securities Inc. lifted its holdings in Prologis by 20.1% in the third quarter. NBC Securities Inc. now owns 1,848 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 309 shares during the period. Global Retirement Partners LLC lifted its holdings in Prologis by 17.8% in the third quarter. Global Retirement Partners LLC now owns 16,890 shares of the real estate investment trust’s stock worth $2,133,000 after buying an additional 2,554 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in Prologis by 18.1% in the third quarter. Bleakley Financial Group LLC now owns 14,990 shares of the real estate investment trust’s stock worth $1,893,000 after buying an additional 2,301 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of NYSE:PLD opened at $120.84 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $111.92 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.64 and a beta of 1.10. The firm’s 50-day moving average is $111.71 and its 200 day moving average is $118.15. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. Prologis’s dividend payout ratio is currently 96.00%.

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.