Hartline Investment Corp Decreases Position in Prologis, Inc. (NYSE:PLD)

Hartline Investment Corp lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,822 shares of the real estate investment trust’s stock after selling 506 shares during the period. Hartline Investment Corp’s holdings in Prologis were worth $1,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in 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 worth $1,853,633,000 after acquiring an additional 1,034,211 shares during the last quarter. FMR LLC raised its stake in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares during the last quarter. Northern Trust Corp raised its stake in Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Principal Financial Group Inc. raised its stake in Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after acquiring an additional 268,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Prologis by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock worth $1,048,551,000 after acquiring an additional 121,159 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird raised their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. Barclays decreased their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Finally, Argus decreased their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.41.

Prologis Stock Down 1.6 %

Shares of Prologis stock traded down $1.65 during trading hours on Wednesday, reaching $103.18. 4,819,335 shares of the company were exchanged, compared to its average volume of 3,472,218. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock’s fifty day moving average is $126.79 and its 200 day moving average is $122.16. 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 firm has a market cap of $95.45 billion, a PE ratio of 30.66, a PEG ratio of 2.10 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.72%. The ex-dividend date 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%.

Prologis 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.