Duff & Phelps Investment Management Co. Has $382.34 Million Position in Prologis, Inc. (NYSE:PLD)

Duff & Phelps Investment Management Co. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 7.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,868,263 shares of the real estate investment trust’s stock after selling 214,805 shares during the quarter. Prologis makes up 4.6% of Duff & Phelps Investment Management Co.’s holdings, making the stock its largest holding. Duff & Phelps Investment Management Co. owned about 0.31% of Prologis worth $382,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Thompson Investment Management Inc. purchased a new stake in shares of Prologis in the fourth quarter valued at approximately $28,000. FinTrust Capital Advisors LLC grew its position 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 buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Prologis during the fourth quarter valued at $37,000. FNY Investment Advisers LLC bought a new stake in shares of Prologis in the fourth quarter valued at about $39,000. Finally, Valley National Advisers Inc. lifted its stake in Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Argus cut their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada boosted their price target on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.53.

Prologis Stock Performance

PLD traded up $0.97 during trading on Monday, reaching $105.03. 2,872,632 shares of the company’s stock were exchanged, compared to its average volume of 3,475,788. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company’s fifty day simple moving average is $124.49 and its 200-day simple moving average is $121.98. The stock has a market capitalization of $97.24 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

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

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.