Forvis Mazars Wealth Advisors LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Forvis Mazars Wealth Advisors LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 11.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,581 shares of the real estate investment trust’s stock after selling 338 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Prologis were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Howard Capital Management Inc. raised its stake in shares of Prologis by 5.8% during the fourth quarter. Howard Capital Management Inc. now owns 6,294 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 346 shares during the period. Sigma Planning Corp raised its stake in shares of Prologis by 14.5% during the fourth quarter. Sigma Planning Corp now owns 8,940 shares of the real estate investment trust’s stock valued at $945,000 after purchasing an additional 1,131 shares during the period. Greystone Financial Group LLC raised its stake in shares of Prologis by 31.4% during the fourth quarter. Greystone Financial Group LLC now owns 75,839 shares of the real estate investment trust’s stock valued at $8,016,000 after purchasing an additional 18,106 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter valued at approximately $30,000. Finally, FDx Advisors Inc. raised its stake in shares of Prologis by 11.2% during the fourth quarter. FDx Advisors Inc. now owns 1,993 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $120.71 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $112.80 and its two-hundred day moving average price is $117.98. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock has a market cap of $111.88 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.35%. Prologis’s payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. 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. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Scotiabank dropped their price target 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, January 27th. Finally, Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.