Foundations Investment Advisors LLC Sells 739 Shares of Prologis, Inc. (NYSE:PLD)

Foundations Investment Advisors LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 19.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,991 shares of the real estate investment trust’s stock after selling 739 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Prologis were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Prologis by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 170,278 shares of the real estate investment trust’s stock worth $19,124,000 after acquiring an additional 10,967 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Prologis by 6.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 34,695 shares of the real estate investment trust’s stock worth $4,381,000 after acquiring an additional 2,247 shares in the last quarter. AMF Tjanstepension AB increased its stake in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. Finally, Czech National Bank raised its position in Prologis by 6.9% during the third quarter. Czech National Bank now owns 188,618 shares of the real estate investment trust’s stock valued at $23,819,000 after purchasing an additional 12,190 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Down 1.3 %

Shares of NYSE:PLD opened at $119.14 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market capitalization of $110.34 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.66 and a beta of 1.09. The stock has a 50 day moving average price of $110.96 and a 200-day moving average price of $118.44.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is presently 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.