Prologis, Inc. (NYSE:PLD) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd cut its holdings in Prologis, Inc. (NYSE:PLD) by 10.2% during the fourth quarter, HoldingsChannel reports. The fund owned 3,593 shares of the real estate investment trust’s stock after selling 410 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Prologis were worth $479,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. South Dakota Investment Council lifted its holdings in Prologis by 4.1% in the fourth quarter. South Dakota Investment Council now owns 163,133 shares of the real estate investment trust’s stock valued at $21,746,000 after acquiring an additional 6,500 shares during the last quarter. GAMMA Investing LLC acquired a new position in Prologis in the fourth quarter valued at approximately $688,000. RWA Wealth Partners LLC lifted its stake in Prologis by 6,946.1% during the fourth quarter. RWA Wealth Partners LLC now owns 153,676 shares of the real estate investment trust’s stock worth $20,485,000 after purchasing an additional 151,495 shares in the last quarter. Greenwich Wealth Management LLC acquired a new position in Prologis during the fourth quarter worth $212,000. Finally, Klingenstein Fields & Co. LP lifted its stake in Prologis by 1.1% during the fourth quarter. Klingenstein Fields & Co. LP now owns 189,702 shares of the real estate investment trust’s stock worth $25,287,000 after purchasing an additional 2,062 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. The Goldman Sachs Group decreased their price target on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. Evercore ISI decreased their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Robert W. Baird increased their price objective on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Barclays reduced their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $135.41.

Prologis Stock Performance

Shares of PLD stock traded down $1.65 during mid-day trading on Wednesday, hitting $103.18. 4,804,843 shares of the stock were exchanged, compared to its average volume of 3,471,603. The stock’s fifty day simple moving average is $126.79 and its two-hundred day simple moving average is $122.16. The stock has a market capitalization of $95.45 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.10 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.72%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.