Busey Bank Sells 93 Shares of Prologis, Inc. (NYSE:PLD)

Busey Bank reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,795 shares of the real estate investment trust’s stock after selling 93 shares during the quarter. Busey Bank’s holdings in Prologis were worth $401,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. ASB Consultores LLC lifted its holdings in Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares in the last quarter. CX Institutional raised its position in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 93 shares in the last quarter. Carmel Capital Partners LLC grew its stake in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 94 shares in the last quarter. Finally, Berkshire Bank lifted its stake in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.3 %

Shares of PLD opened at $120.66 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a 50-day moving average price of $110.83 and a 200 day moving average price of $118.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company has a market capitalization of $111.75 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.