Jackson Creek Investment Advisors LLC Lowers Position in Prologis, Inc. (NYSE:PLD)

Jackson Creek Investment Advisors LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 3.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,877 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Prologis were worth $384,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PLD. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Prologis in the third quarter worth $185,164,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 6.7% in the third 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 buying an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Prologis by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after purchasing an additional 721,910 shares in the last quarter. PGGM Investments raised its stake in Prologis by 29.2% during the fourth quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock valued at $422,509,000 after purchasing an additional 717,172 shares in the last quarter. Finally, Barclays PLC raised its stake in Prologis by 23.0% during the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after purchasing an additional 525,171 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 2.8 %

NYSE PLD opened at $102.05 on Wednesday. The company’s 50-day moving average price is $123.87 and its 200-day moving average price is $121.92. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $94.48 billion, a PE ratio of 29.84, a PEG ratio of 2.18 and a beta of 1.00. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.76%. Prologis’s dividend payout ratio is presently 112.28%.

Analysts Set New Price Targets

PLD has been the topic of a number of recent research reports. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Barclays decreased their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $132.35.

Prologis Company 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.