Hardman Johnston Global Advisors LLC Has $2.96 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Hardman Johnston Global Advisors LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,002 shares of the real estate investment trust’s stock after selling 400 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Prologis were worth $2,960,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. Dunhill Financial LLC grew its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC acquired a new stake in Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co acquired a new stake in Prologis in the third quarter valued at approximately $52,000. Finally, Asset Planning Inc acquired a new stake in Prologis in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of research reports. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial upped their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $121.01 on Monday. The stock’s 50-day simple moving average is $112.56 and its 200 day simple moving average is $117.99. The stock has a market capitalization of $112.16 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. 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 $135.76.

Prologis Increases Dividend

The business 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. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. Prologis’s dividend payout ratio is 96.00%.

Insider Buying and Selling

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

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.