Prologis, Inc. (NYSE:PLD) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,357 shares of the real estate investment trust’s stock after selling 2,342 shares during the period. Ingalls & Snyder LLC’s holdings in Prologis were worth $883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the period. Geode Capital Management LLC raised its holdings in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Prologis by 1.8% during the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after purchasing an additional 80,575 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 1.1 %

NYSE:PLD opened at $121.07 on Friday. The stock has a market cap of $112.13 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The business’s 50-day simple moving average is $111.39 and its 200 day simple moving average is $118.15. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio is presently 96.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on PLD. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% 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.