Prologis, Inc. $PLD Stock: D.A. Davidson & CO. Trims Stake

Key Points

• D.A. Davidson & CO. reduced its Prologis stake by 1.6% in the third quarter, selling 8,629 shares and retaining 518,863 shares valued at approximately $67.4 million.
• Institutional ownership remains high at 93.5%, with major investors including BlackRock, UBS Asset Management and Dimensional Fund Advisors holding substantial positions.
• Analysts maintain a generally positive outlook, with Prologis receiving a “Moderate Buy” consensus rating and an average price target of $154.68. The company also offers a $1.07 quarterly dividend, representing a 3.4% annualized yield.

D.A. Davidson & CO. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 518,863 shares of the real estate investment trust's stock after selling 8,629 shares during the quarter. D.A. Davidson & CO.'s holdings in Prologis were worth $67,369,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PLD. BlackRock Inc. bought a new stake in shares of Prologis in the second quarter worth about $14,006,587,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prologis by 4.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,753,884 shares of the real estate investment trust's stock worth $1,998,709,000 after buying an additional 618,467 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Prologis by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 11,565,453 shares of the real estate investment trust's stock worth $1,528,636,000 after buying an additional 110,681 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Prologis in the second quarter worth about $1,473,965,000. Finally, Bank of America Corp DE bought a new position in Prologis during the second quarter valued at approximately $1,427,256,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. KeyCorp restated a "sector weight" rating on shares of Prologis in a report on Monday, October 19th. BTIG Research reaffirmed a "buy" rating and set a $170.00 price objective on shares of Prologis in a report on Friday, October 16th. Truist Financial decreased their price objective on Prologis from $162.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Barclays increased their target price on Prologis from $139.00 to $156.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Prologis in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $154.68.

Prologis Stock Performance

NYSE:PLD opened at $125.12 on Thursday. The firm has a market capitalization of $116.75 billion, a PE ratio of 27.62, a PEG ratio of 1.44 and a beta of 1.31. The stock's fifty day moving average is $133.46 and its 200 day moving average is $137.79. Prologis, Inc. has a fifty-two week low of $121.40 and a fifty-two week high of $153.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.34.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a yield of 3.4%. Prologis's payout ratio is 94.48%.

Prologis Company Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.

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