Inspire Investing LLC Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Inspire Investing LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,087 shares of the real estate investment trust’s stock after selling 5,390 shares during the period. Prologis comprises 1.0% of Inspire Investing LLC’s investment portfolio, making the stock its 11th largest position. Inspire Investing LLC’s holdings in Prologis were worth $8,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PLD. Empirical Asset Management LLC grew its position in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the last quarter. Sunflower Bank N.A. bought a new stake in shares of Prologis in the 3rd quarter worth approximately $249,000. Cardano Risk Management B.V. grew its position in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the 2nd quarter worth approximately $878,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 1.8 %

PLD stock opened at $115.16 on Thursday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The business has a fifty day moving average price of $110.31 and a 200-day moving average price of $118.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $106.66 billion, a P/E ratio of 28.79, a P/E/G ratio of 3.25 and a beta of 1.09.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PLD shares. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Finally, Truist Financial dropped their price target on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

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.