Griffin Asset Management Inc. Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Griffin Asset Management Inc. lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 28.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,427 shares of the real estate investment trust’s stock after selling 1,740 shares during the quarter. Griffin Asset Management Inc.’s holdings in Prologis were worth $468,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prologis by 534.7% in 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 last quarter. Janus Henderson Group PLC raised its position in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares during the period. AMF Tjanstepension AB lifted its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Prologis by 547.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after buying an additional 874,411 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Prologis in the third quarter valued at $109,579,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.72.

Prologis Stock Down 0.8 %

PLD stock opened at $120.23 on Wednesday. The company’s 50 day moving average is $110.63 and its two-hundred day moving average is $118.41. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. 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 stock has a market cap of $111.35 billion, a P/E ratio of 30.06, a PEG ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.