Fifth Third Wealth Advisors LLC Sells 1,461 Shares of Prologis, Inc. (NYSE:PLD)

Fifth Third Wealth Advisors LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,551 shares of the real estate investment trust’s stock after selling 1,461 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Prologis were worth $853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. 180 Wealth Advisors LLC increased its holdings in shares of Prologis by 1.7% in the 1st quarter. 180 Wealth Advisors LLC now owns 38,289 shares of the real estate investment trust’s stock worth $4,986,000 after buying an additional 643 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Prologis by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 272,548 shares of the real estate investment trust’s stock valued at $35,491,000 after purchasing an additional 9,639 shares during the last quarter. Graybill Wealth Management LTD. grew its holdings in shares of Prologis by 2.9% during the 1st quarter. Graybill Wealth Management LTD. now owns 27,470 shares of the real estate investment trust’s stock valued at $3,577,000 after purchasing an additional 784 shares during the last quarter. Agate Pass Investment Management LLC grew its holdings in shares of Prologis by 1.1% during the 1st quarter. Agate Pass Investment Management LLC now owns 15,187 shares of the real estate investment trust’s stock valued at $1,978,000 after purchasing an additional 160 shares during the last quarter. Finally, Vert Asset Management LLC grew its holdings in shares of Prologis by 0.9% during the 1st quarter. Vert Asset Management LLC now owns 138,216 shares of the real estate investment trust’s stock valued at $17,998,000 after purchasing an additional 1,169 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. Evercore ISI reduced their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Barclays cut their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada cut their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Finally, StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Stock Up 0.9 %

NYSE PLD traded up $0.94 during trading hours on Thursday, reaching $111.35. 2,940,048 shares of the company’s stock traded hands, compared to its average volume of 3,750,776. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $103.09 billion, a PE ratio of 32.31, a PEG ratio of 2.45 and a beta of 1.07. The firm has a 50-day simple moving average of $107.83 and a 200 day simple moving average of $121.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.45%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

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.