Prologis, Inc. (NYSE:PLD) Stake Lowered by J.Safra Asset Management Corp

J.Safra Asset Management Corp decreased its stake in Prologis, Inc. (NYSE:PLD) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 725 shares of the real estate investment trust’s stock after selling 196 shares during the period. J.Safra Asset Management Corp’s holdings in Prologis were worth $97,000 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 stock. Columbia Trust Co 01012016 grew its position in shares of Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares during the last quarter. DNB Asset Management AS boosted its position in shares of Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management grew its holdings in Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its stake in Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after acquiring an additional 11,582 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.2 %

Shares of NYSE PLD traded up $0.17 during mid-day trading on Thursday, reaching $103.35. The company had a trading volume of 3,798,273 shares, compared to its average volume of 3,476,304. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The company has a market capitalization of $95.60 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.17 and a beta of 1.00. The stock has a fifty day moving average of $125.65 and a two-hundred day moving average of $121.90. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley boosted their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Finally, UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.