Prologis, Inc. (NYSE:PLD) Position Cut by Strategy Asset Managers LLC

Strategy Asset Managers LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,954 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Strategy Asset Managers LLC’s holdings in Prologis were worth $312,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PLD. Empirical Asset Management LLC grew its position in Prologis by 339.0% in the 4th 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 during the last quarter. Cardano Risk Management B.V. boosted its position in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the 3rd quarter valued at approximately $1,051,000. Finally, Banco Santander S.A. raised its stake in Prologis by 88.0% during the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock valued at $495,000 after acquiring an additional 2,192 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLD. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Prologis stock opened at $110.37 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm’s 50 day simple moving average is $117.74 and its 200-day simple moving average is $116.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market cap of $102.29 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.66%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

About Prologis

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.