Envestnet Asset Management Inc. Decreases Position in Prologis, Inc. (NYSE:PLD)

Envestnet Asset Management Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,627,148 shares of the real estate investment trust’s stock after selling 79,582 shares during the period. Envestnet Asset Management Inc.’s holdings in Prologis were worth $277,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis during the 4th quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the 4th quarter worth about $30,000. Dunhill Financial LLC increased its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Prologis in the 4th quarter worth about $34,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 3.4 %

Shares of PLD stock opened at $98.10 on Friday. The company has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. 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 company’s fifty day moving average price is $116.86 and its 200-day moving average price is $115.54. Prologis, Inc. has a one year low of $95.34 and a one year high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 4.12%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial lifted 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. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Company 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.