Tobam Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Tobam lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 22.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 802 shares of the real estate investment trust’s stock after selling 236 shares during the period. Tobam’s holdings in Prologis were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PLD. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Prologis by 31.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,517 shares of the real estate investment trust’s stock valued at $570,000 after buying an additional 1,079 shares during the period. CWM LLC lifted its stake in shares of Prologis by 6.6% in the 3rd quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock valued at $2,558,000 after purchasing an additional 1,257 shares during the last quarter. Wedmont Private Capital lifted its position in Prologis by 14.6% in the third quarter. Wedmont Private Capital now owns 5,569 shares of the real estate investment trust’s stock valued at $668,000 after buying an additional 710 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its holdings in shares of Prologis by 41.3% in the 3rd quarter. Quotient Wealth Partners LLC now owns 2,865 shares of the real estate investment trust’s stock worth $362,000 after acquiring an additional 838 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $117.39 on Friday. The firm has a 50 day moving average of $111.10 and a 200-day moving average of $118.30. The company has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

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.