Financial Counselors Inc. Has $12.29 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Financial Counselors Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 12.2% in the 4th quarter, HoldingsChannel reports. The firm owned 116,243 shares of the real estate investment trust’s stock after selling 16,161 shares during the period. Financial Counselors Inc.’s holdings in Prologis were worth $12,287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Empirical Asset Management LLC raised its stake in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis during the third quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Prologis by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after buying an additional 9,147 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.7 %

Shares of NYSE PLD opened at $111.07 on Thursday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market cap of $102.94 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. The firm has a 50 day moving average price of $117.72 and a 200 day moving average price of $116.63.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.64%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLD. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.