UNIVEST FINANCIAL Corp Sells 2,153 Shares of Prologis, Inc. (NYSE:PLD)

UNIVEST FINANCIAL Corp cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,573 shares of the real estate investment trust’s stock after selling 2,153 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Prologis were worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Prologis during the fourth quarter valued at about $254,876,000. Janus Henderson Group PLC lifted its stake in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares during the period. Jennison Associates LLC grew its position in Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after buying an additional 829,504 shares in the last quarter. Finally, State Street Corp increased its stake in Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PLD shares. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One equities research 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 stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Up 1.7 %

Shares of NYSE PLD opened at $111.07 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market cap of $102.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm’s 50-day simple moving average is $117.72 and its 200 day simple moving average is $116.63.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Prologis Profile

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.