Prologis, Inc. (NYSE:PLD) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its stake in Prologis, Inc. (NYSE:PLD) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,573 shares of the real estate investment trust’s stock after selling 2,123 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Prologis were worth $1,329,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter worth about $30,000. Promus Capital LLC acquired a new stake in Prologis in the 4th quarter valued at about $34,000. Whipplewood Advisors LLC acquired a new stake in Prologis in the 4th quarter valued at about $34,000. Finally, Coastline Trust Co acquired a new stake in Prologis in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of PLD opened at $117.39 on Wednesday. The company has a market capitalization of $108.81 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The business’s 50-day moving average is $116.45 and its 200-day moving average is $117.79.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.44%. Prologis’s dividend payout ratio is currently 101.00%.

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.