Prologis, Inc. (NYSE:PLD) is Duff & Phelps Investment Management Co.’s 3rd Largest Position

Duff & Phelps Investment Management Co. reduced its position in Prologis, Inc. (NYSE:PLD) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,902,254 shares of the real estate investment trust’s stock after selling 14,597 shares during the period. Prologis makes up about 3.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 3rd biggest position. Duff & Phelps Investment Management Co. owned approximately 0.31% of Prologis worth $306,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the 4th quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter worth about $30,000. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the 4th quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE PLD opened at $110.95 on Friday. 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 company has a market cap of $102.84 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The firm’s fifty day moving average is $117.72 and its two-hundred day moving average is $116.59.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PLD shares. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, 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 report on Thursday, January 30th. One investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

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.