Washington Trust Bank Has $4.99 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Washington Trust Bank cut its stake in Prologis, Inc. (NYSE:PLD) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,196 shares of the real estate investment trust’s stock after selling 744 shares during the quarter. Washington Trust Bank’s holdings in Prologis were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the fourth quarter valued at about $34,000. Promus Capital LLC purchased a new stake in Prologis in the 4th quarter worth approximately $34,000. Finally, Asset Planning Inc bought a new position in Prologis in the 4th quarter valued at $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLD. Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank reduced their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Down 3.4 %

PLD opened at $108.27 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. 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 has a 50 day simple moving average of $117.54 and a two-hundred day simple moving average of $117.07. The firm has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Insider Buying and Selling

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 transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Profile

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.