Intrust Bank NA Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Intrust Bank NA reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 11.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,815 shares of the real estate investment trust’s stock after selling 2,925 shares during the quarter. Intrust Bank NA’s holdings in Prologis were worth $2,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in Prologis during the 4th quarter valued at approximately $28,000. FinTrust Capital Advisors LLC lifted its stake in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Prologis in the fourth quarter worth $37,000. FNY Investment Advisers LLC purchased a new stake in Prologis during the 4th quarter valued at about $39,000. Finally, Valley National Advisers Inc. raised its position in Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 250 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

NYSE PLD traded up $0.95 on Monday, hitting $105.01. The company’s stock had a trading volume of 2,840,501 shares, compared to its average volume of 3,460,879. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company’s 50-day moving average is $125.06 and its 200 day moving average is $122.01. The firm has a market cap of $97.22 billion, a PE ratio of 30.72, a PEG ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is 112.28%.

Analysts Set New Price Targets

Several analysts have commented on PLD shares. Barclays dropped their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho reissued a “neutral” rating and set a $130.00 target price on shares of Prologis in a research note on Tuesday, April 2nd. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Finally, Royal Bank of Canada increased their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $133.53.

About Prologis

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.