Prologis, Inc. (NYSE:PLD) Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its holdings in Prologis, Inc. (NYSE:PLD) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,399 shares of the real estate investment trust’s stock after selling 1,065 shares during the quarter. Greenleaf Trust’s holdings in Prologis were worth $2,050,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Prologis in the 3rd quarter worth about $48,000. Coastline Trust Co purchased a new position in shares of Prologis in the 3rd quarter worth about $52,000. Fortitude Family Office LLC raised its holdings in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Finally, Reston Wealth Management LLC purchased a new position in shares of Prologis in the 3rd quarter worth about $70,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James restated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $119.14 on Monday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The business has a 50 day moving average price of $111.03 and a two-hundred day moving average price of $118.40. 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 $110.34 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis’s payout ratio is 96.00%.

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.