Savant Capital LLC Decreases Stake in Prologis, Inc. (NYSE:PLD)

Savant Capital LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,300 shares of the real estate investment trust’s stock after selling 354 shares during the quarter. Savant Capital LLC’s holdings in Prologis were worth $973,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Prologis during the 3rd quarter valued at about $185,164,000. Massachusetts Financial Services Co. MA grew its position in shares of Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after purchasing an additional 721,910 shares during the last quarter. PGGM Investments lifted its position in Prologis by 29.2% during the fourth quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock worth $422,509,000 after buying an additional 717,172 shares in the last quarter. Finally, Barclays PLC boosted its stake in Prologis by 23.0% during the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock worth $315,253,000 after buying an additional 525,171 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD opened at $105.85 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $98.00 billion, a P/E ratio of 30.95, a P/E/G ratio of 2.12 and a beta of 1.05. The stock has a 50 day moving average of $122.66 and a two-hundred day moving average of $121.66. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLD. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Robert W. Baird reduced their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.35.

Prologis Company Profile

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.