Franklin Resources Inc. Has $283.37 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Franklin Resources Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,680,909 shares of the real estate investment trust’s stock after selling 37,534 shares during the quarter. Franklin Resources Inc. owned 0.29% of Prologis worth $283,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Bridgewater Associates LP lifted its holdings in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Prologis by 736.6% in the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock valued at $2,986,000 after buying an additional 20,815 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in Prologis by 290.7% in the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock valued at $4,042,000 after buying an additional 23,816 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Prologis by 19.7% in the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust’s stock valued at $21,500,000 after buying an additional 27,923 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLD. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

NYSE:PLD opened at $111.49 on Wednesday. The company has a market cap of $103.33 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average price is $117.67 and its two-hundred day moving average price is $115.98. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.62%. Prologis’s dividend payout ratio is presently 101.00%.

Prologis Company 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.