Inspire Investing LLC Lowers Position in Prologis, Inc. (NYSE:PLD)

Inspire Investing LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,087 shares of the real estate investment trust’s stock after selling 5,390 shares during the quarter. Prologis makes up 1.0% of Inspire Investing LLC’s investment portfolio, making the stock its 11th largest holding. Inspire Investing LLC’s holdings in Prologis were worth $8,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PLD. Empirical Asset Management LLC increased its position in shares of Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the 3rd quarter valued at $249,000. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis during the 2nd quarter valued at $878,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLD. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial cut their price target on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Performance

Shares of PLD opened at $115.16 on Thursday. The company has a market cap of $106.66 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $110.31 and a 200-day moving average price of $118.33. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. Prologis’s dividend payout ratio is 96.00%.

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.