Generate Investment Management Ltd Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Generate Investment Management Ltd lowered its holdings in Prologis, Inc. (NYSE:PLD) by 12.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,274 shares of the real estate investment trust’s stock after selling 18,313 shares during the quarter. Generate Investment Management Ltd’s holdings in Prologis were worth $13,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Empirical Asset Management LLC increased its position in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Sunflower Bank N.A. acquired a new stake in Prologis during the 3rd quarter worth $249,000. Cardano Risk Management B.V. grew its position in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in Prologis in the 3rd quarter valued at about $1,051,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLD shares. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research cut their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

PLD opened at $118.48 on Friday. The company has a 50 day moving average of $111.10 and a two-hundred day moving average of $118.30. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market cap of $109.73 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.66 and a beta of 1.10.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.

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.