Huntington National Bank Sells 3,262 Shares of Prologis, Inc. (NYSE:PLD)

Huntington National Bank reduced its position in Prologis, Inc. (NYSE:PLD) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,910 shares of the real estate investment trust’s stock after selling 3,262 shares during the quarter. Huntington National Bank’s holdings in Prologis were worth $21,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new stake in Prologis during the fourth quarter worth $456,000. Headlands Technologies LLC increased its stake in shares of Prologis by 283.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 3,580 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Prologis by 4.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 14,949 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 612 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank decreased their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Wolfe Research dropped their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $111.49 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm’s fifty day moving average is $117.67 and its 200-day moving average is $115.98. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The firm has a market cap of $103.33 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.62%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

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.