Cetera Advisor Networks LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Cetera Advisor Networks LLC decreased its position in Prologis, Inc. (NYSE:PLDFree Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,592 shares of the real estate investment trust’s stock after selling 371 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Prologis were worth $7,810,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Prologis during the fourth quarter worth $1,074,648,000. Capital World Investors increased its position in shares of Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after acquiring an additional 6,765,582 shares during the period. Capital Research Global Investors increased its position in shares of Prologis by 15.8% during the fourth quarter. Capital Research Global Investors now owns 5,296,833 shares of the real estate investment trust’s stock worth $706,068,000 after acquiring an additional 723,807 shares during the period. Envestnet Asset Management Inc. increased its position in shares of 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 worth $269,561,000 after acquiring an additional 721,910 shares during the period. Finally, PGGM Investments increased its position in shares of Prologis by 29.2% during the fourth quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock worth $422,509,000 after acquiring an additional 717,172 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLD. The Goldman Sachs Group lowered their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Finally, Evercore ISI decreased their target price 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. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

Get Our Latest Stock Analysis on PLD

Prologis Trading Up 0.2 %

Shares of PLD opened at $110.20 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $110.55 and a 200-day simple moving average of $122.31. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market cap of $102.03 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.42 and a beta of 1.07.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.48%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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