Federated Hermes Inc. Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,927,825 shares of the real estate investment trust’s stock after buying an additional 15,055 shares during the period. Prologis comprises 0.7% of Federated Hermes Inc.’s investment portfolio, making the stock its 24th largest holding. Federated Hermes Inc. owned approximately 0.32% of Prologis worth $309,471,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLD. Geode Capital Management LLC increased its position in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after purchasing an additional 334,907 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Prologis by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock worth $1,099,569,000 after purchasing an additional 173,531 shares during the period. Norges Bank acquired a new stake in Prologis in the 4th quarter valued at about $951,263,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after buying an additional 32,644 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $98.10 on Friday. Prologis, Inc. has a 52-week low of $95.34 and a 52-week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $116.86 and a 200-day simple moving average of $115.54. The company has a market capitalization of $90.94 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is presently 101.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, 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 report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.