Prologis, Inc. (NYSE:PLD) Shares Sold by Rice Partnership LLC

Rice Partnership LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,590 shares of the real estate investment trust’s stock after selling 1,048 shares during the quarter. Rice Partnership LLC’s holdings in Prologis were worth $1,014,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. JB Capital LLC boosted its position in shares of Prologis by 6.7% in the 4th quarter. JB Capital LLC now owns 83,297 shares of the real estate investment trust’s stock worth $8,805,000 after purchasing an additional 5,206 shares in the last quarter. River Street Advisors LLC boosted its position in shares of Prologis by 15.9% in the 4th quarter. River Street Advisors LLC now owns 2,689 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 368 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Prologis by 199.9% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 14,212 shares of the real estate investment trust’s stock worth $1,502,000 after purchasing an additional 9,473 shares in the last quarter. Osborne Partners Capital Management LLC acquired a new stake in Prologis during the 4th quarter worth about $3,556,000. Finally, DAVENPORT & Co LLC lifted its position in Prologis by 3.7% during the 4th quarter. DAVENPORT & Co LLC now owns 28,453 shares of the real estate investment trust’s stock worth $3,007,000 after acquiring an additional 1,027 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLD. JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Robert W. Baird lifted their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 1.3 %

Shares of Prologis stock opened at $119.14 on Monday. The stock has a market cap of $110.34 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.66 and a beta of 1.10. The stock’s 50 day simple moving average is $111.03 and its 200-day simple moving average is $118.37. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 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.