O Shaughnessy Asset Management LLC Sells 7,370 Shares of Prologis, Inc. (NYSE:PLD)

O Shaughnessy Asset Management LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,106 shares of the real estate investment trust’s stock after selling 7,370 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Prologis were worth $7,516,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bridgewater Associates LP lifted its position in shares of Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 103 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Prologis by 736.6% during the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock valued at $2,986,000 after acquiring an additional 20,815 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in Prologis by 290.7% in the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock valued at $4,042,000 after acquiring an additional 23,816 shares in the last quarter. HighTower Advisors LLC grew its holdings in Prologis by 19.7% in the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust’s stock worth $21,500,000 after purchasing an additional 27,923 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLD. BTIG Research lowered their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Scotiabank lowered their target price 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, Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. 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. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $111.49 on Wednesday. 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 stock has a market capitalization of $103.33 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.70 and a beta of 1.09. The firm’s 50 day simple moving average is $117.67 and its 200-day simple moving average is $115.98. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.