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

Huntington National Bank cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the fourth quarter, according to the company in its most recent Form 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 period. Huntington National Bank’s holdings in Prologis were worth $21,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its position in shares of Prologis by 2.1% in the 4th 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 period. RFG Bristol Wealth Advisors LLC bought a new stake in Prologis in the fourth quarter valued at approximately $456,000. Headlands Technologies LLC increased its stake in Prologis by 283.0% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Prologis by 4.3% in the 4th quarter. HighPoint Advisor Group LLC now owns 14,949 shares of the real estate investment trust’s stock valued at $1,580,000 after buying an additional 612 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $111.49 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization 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, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The stock has a 50 day moving average of $117.67 and a 200-day moving average of $115.98.

Prologis Increases Dividend

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

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.