West Michigan Advisors LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

West Michigan Advisors LLC decreased its holdings in Prologis, Inc. (NYSE:PLD) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,670 shares of the real estate investment trust’s stock after selling 222 shares during the period. West Michigan Advisors LLC’s holdings in Prologis were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Prologis during the 4th quarter worth $937,000. Private Trust Co. NA raised its position in Prologis by 10.3% during the 4th quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 391 shares during the last quarter. First American Bank raised its position in Prologis by 1.6% during the 4th quarter. First American Bank now owns 39,103 shares of the real estate investment trust’s stock worth $4,133,000 after buying an additional 604 shares during the last quarter. QRG Capital Management Inc. raised its position in Prologis by 16.3% during the 4th quarter. QRG Capital Management Inc. now owns 100,697 shares of the real estate investment trust’s stock worth $10,644,000 after buying an additional 14,132 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Prologis by 18,374.0% during the 4th quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 344,513 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $123.88 on Friday. The stock has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company’s 50-day moving average price is $114.28 and its 200 day moving average price is $118.08. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.