Ethic Inc. Has $9.30 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Ethic Inc. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 69,730 shares of the real estate investment trust’s stock after selling 4,993 shares during the period. Ethic Inc.’s holdings in Prologis were worth $9,295,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PLD. Thompson Investment Management Inc. bought a new stake in shares of Prologis in the 4th quarter valued at about $28,000. JFS Wealth Advisors LLC lifted its stake in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Clear Investment Research LLC boosted its holdings in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in Prologis during the 4th quarter valued at approximately $37,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Argus dropped their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Scotiabank decreased their target price on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Finally, BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Five 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Stock Up 0.5 %

Shares of PLD stock traded up $0.57 during trading hours on Tuesday, reaching $111.74. The company had a trading volume of 1,926,476 shares, compared to its average volume of 3,696,057. The company has a market cap of $103.45 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The business has a fifty day simple moving average of $110.22 and a 200-day simple moving average of $122.46.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.44%. The ex-dividend date is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.