Prologis, Inc. (NYSE:PLD) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 2.3% in the fourth quarter, HoldingsChannel reports. The firm owned 159,981 shares of the real estate investment trust’s stock after selling 3,716 shares during the quarter. Yousif Capital Management LLC’s holdings in Prologis were worth $21,325,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Prologis during the 3rd quarter worth about $185,164,000. Massachusetts Financial Services Co. MA increased its stake in shares of Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the period. Envestnet Asset Management Inc. raised its holdings in 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 acquiring an additional 721,910 shares in the last quarter. Barclays PLC lifted its stake in Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock worth $315,253,000 after acquiring an additional 525,171 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Prologis by 89.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock worth $112,741,000 after acquiring an additional 475,229 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock traded up $0.78 during midday trading on Tuesday, hitting $104.86. 4,231,958 shares of the company’s stock were exchanged, compared to its average volume of 3,454,940. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The stock has a market cap of $97.00 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm’s 50 day simple moving average is $126.79 and its 200 day simple moving average is $122.16.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada increased their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Evercore ISI decreased their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company 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. Finally, Morgan Stanley boosted their target price on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $135.41.

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.