Prologis, Inc. (NYSE:PLD) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,238 shares of the real estate investment trust’s stock after selling 1,919 shares during the period. Meeder Advisory Services Inc.’s holdings in Prologis were worth $1,505,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLD. Principle Wealth Partners LLC increased its position in shares of Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC grew its stake in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank increased its holdings in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares during the period. J.Safra Asset Management Corp raised its position in Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 102 shares in the last quarter. Finally, West Wealth Group LLC boosted its stake in shares of Prologis by 1.7% in the 4th quarter. West Wealth Group LLC now owns 6,206 shares of the real estate investment trust’s stock valued at $656,000 after buying an additional 103 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Prologis Stock Up 1.0 %

Shares of NYSE:PLD opened at $112.52 on Thursday. 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 cap of $104.29 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm has a fifty day moving average price of $117.61 and a 200 day moving average price of $115.95.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.59%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Analyst Ratings Changes

Several analysts recently weighed in on PLD shares. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.