Richardson Financial Services Inc. Sells 708 Shares of Prologis, Inc. (NYSE:PLD)

Richardson Financial Services Inc. reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 48.1% in the 4th quarter, Holdings Channel reports. The firm owned 763 shares of the real estate investment trust’s stock after selling 708 shares during the quarter. Richardson Financial Services Inc.’s holdings in Prologis were worth $80,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC lifted its holdings in Prologis by 0.9% in the third 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 buying an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Prologis by 534.7% during 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 worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Swedbank AB raised its position in shares of Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after acquiring an additional 80,575 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $119.14 on Monday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock has a market capitalization of $110.34 billion, a P/E ratio of 29.78, a PEG ratio of 2.66 and a beta of 1.09. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $111.03 and its 200 day moving average is $118.40.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. Prologis’s payout ratio is 96.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PLD shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One 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 stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.