Sterling Investment Counsel LLC Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sterling Investment Counsel LLC reduced its position in shares of Prologis, Inc. (NYSE:PLDFree Report) by 65.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,640 shares of the real estate investment trust’s stock after selling 7,013 shares during the period. Sterling Investment Counsel LLC’s holdings in Prologis were worth $385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its stake in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James restated an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Read Our Latest Stock Analysis on Prologis

Prologis Stock Up 2.0 %

Shares of Prologis stock opened at $121.29 on Tuesday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a market capitalization of $112.33 billion, a P/E ratio of 30.32, a PEG ratio of 3.19 and a beta of 1.09. The business’s fifty day moving average price is $110.49 and its two-hundred day moving average price is $118.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio is presently 96.00%.

Prologis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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