Adams Diversified Equity Fund Inc. Has $6.24 Million Holdings in Prologis, Inc. (NYSE:PLD)

Adams Diversified Equity Fund Inc. cut its position in Prologis, Inc. (NYSE:PLD) by 54.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,000 shares of the real estate investment trust’s stock after selling 70,600 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Prologis were worth $6,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principle Wealth Partners LLC lifted its holdings in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Black Diamond Financial LLC lifted its holdings in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the last quarter. Berkshire Bank lifted its holdings in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Prologis by 4.0% in the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 103 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.9 %

Shares of NYSE PLD opened at $112.01 on Friday. The stock has a market cap of $103.81 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. The firm has a 50 day moving average price of $117.44 and a 200 day moving average price of $117.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57.

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 issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’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 transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Company 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.