Allworth Financial LP lowered its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,599 shares of the real estate investment trust’s stock after selling 4,806 shares during the quarter. Allworth Financial LP’s holdings in Prologis were worth $31,239,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Solstein Capital LLC acquired a new position in Prologis in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new position in Prologis during the 2nd quarter valued at approximately $25,000. Clearstead Trust LLC bought a new position in Prologis during the 2nd quarter worth $28,000. SouthState Bank Corp grew its position in shares of Prologis by 73.1% during the fourth quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 95 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $29,000. Institutional investors own 93.50% of the company’s stock.
Prologis Price Performance
PLD stock traded up $1.25 during midday trading on Tuesday, reaching $138.59. 2,638,698 shares of the company’s stock traded hands, compared to its average volume of 3,764,379. Prologis, Inc. has a 1-year low of $110.60 and a 1-year high of $153.35. The company has a market cap of $129.32 billion, a price-to-earnings ratio of 30.87 and a beta of 1.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $142.03 and a two-hundred day simple moving average of $140.56.
Prologis Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $4.28 annualized dividend and a yield of 3.1%. Prologis’s dividend payout ratio (DPR) is presently 95.32%.
Insiders Place Their Bets
In other Prologis news, CFO Timothy Arndt sold 3,597 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.
Analyst Ratings Changes
PLD has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of Prologis from $154.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. BTIG Research boosted their target price on Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Wells Fargo & Company reduced their price target on shares of Prologis from $167.00 to $166.00 and set an “overweight” rating for the company in a research report on Tuesday, September 1st. Weiss Ratings downgraded Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Finally, Scotiabank lifted their target price on shares of Prologis from $146.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $154.52.
View Our Latest Research Report on Prologis
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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