Prologis, Inc. (NYSE:PLD) Stock Position Lowered by Metis Global Partners LLC

Metis Global Partners LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,570 shares of the real estate investment trust’s stock after selling 779 shares during the period. Prologis accounts for 0.6% of Metis Global Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Metis Global Partners LLC’s holdings in Prologis were worth $15,139,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PLD. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Prologis during the third quarter valued at $185,164,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 6.7% in the 3rd 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 during the period. Envestnet Asset Management Inc. lifted its position 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 worth $269,561,000 after purchasing an additional 721,910 shares in the last quarter. PGGM Investments raised its holdings in shares of 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 acquiring an additional 717,172 shares in the last quarter. Finally, Barclays PLC boosted its position 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 valued at $315,253,000 after purchasing an additional 525,171 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE PLD traded up $1.36 during trading hours on Friday, reaching $105.89. The stock had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The company has a market cap of $98.04 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The business’s fifty day moving average is $122.11 and its two-hundred day moving average is $121.84. 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 declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLD. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Robert W. Baird decreased their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. Argus cut their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.