Metis Global Partners LLC Sells 779 Shares of Prologis, Inc. (NYSE:PLD)

Metis Global Partners LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,570 shares of the real estate investment trust’s stock after selling 779 shares during the quarter. Prologis accounts for 0.6% of Metis Global Partners LLC’s investment portfolio, making the stock its 26th largest position. Metis Global Partners LLC’s holdings in Prologis were worth $15,139,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Family Legacy Inc. lifted its position in Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares during the last quarter. Lockerman Financial Group Inc. boosted its stake in shares of Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 87 shares in the last quarter. Hixon Zuercher LLC grew its holdings in shares of Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after purchasing an additional 88 shares during the last quarter. AdvisorNet Financial Inc raised its position in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 90 shares during the period. Finally, Holistic Financial Partners raised its position in Prologis by 5.3% in the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 97 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLD shares. Barclays reduced their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Robert W. Baird decreased their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $132.35.

Prologis Stock Up 1.3 %

Prologis stock traded up $1.36 during trading hours on Friday, hitting $105.89. 3,517,673 shares of the stock traded hands, compared to its average volume of 4,890,799. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market cap of $98.04 billion, a PE ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. The firm’s 50-day moving average price is $122.11 and its two-hundred day moving average price is $121.84. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.63%. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

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.