Fisher Asset Management LLC Has $1.69 Million Holdings in Prologis, Inc. (NYSE:PLD)

Fisher Asset Management LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,014 shares of the real estate investment trust’s stock after selling 1,874 shares during the period. Fisher Asset Management LLC’s holdings in Prologis were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PLD. SVB Wealth LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $937,000. Private Trust Co. NA increased its stake in shares of Prologis by 10.3% in the 4th quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 391 shares during the last quarter. First American Bank increased its stake in shares of Prologis by 1.6% in the 4th quarter. First American Bank now owns 39,103 shares of the real estate investment trust’s stock valued at $4,133,000 after acquiring an additional 604 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Prologis by 16.3% in the 4th quarter. QRG Capital Management Inc. now owns 100,697 shares of the real estate investment trust’s stock valued at $10,644,000 after acquiring an additional 14,132 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Prologis by 18,374.0% in the 4th quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 344,513 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent analyst reports. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

Shares of PLD opened at $124.08 on Thursday. The stock has a market capitalization of $115.00 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a 50 day moving average of $115.40 and a 200-day moving average of $118.03. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis 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.