Amalgamated Bank Reduces Position in Prologis, Inc. (NYSE:PLD)

Amalgamated Bank lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,231 shares of the real estate investment trust's stock after selling 4,577 shares during the period. Amalgamated Bank's holdings in Prologis were worth $18,733,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLD. AMF Tjanstepension AB increased its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Prologis by 9,354.5% in the third quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust's stock valued at $54,920,000 after purchasing an additional 430,308 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Prologis by 14.5% in the third quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust's stock worth $3,603,000 after purchasing an additional 3,614 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Prologis by 0.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,210 shares of the real estate investment trust's stock worth $5,835,000 after purchasing an additional 327 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Prologis by 5.0% during the third quarter. Frank Rimerman Advisors LLC now owns 7,997 shares of the real estate investment trust's stock worth $1,010,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred 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 owns 7,977 shares in the company, 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 SEC, which is available through this link. 0.56% of the stock is currently owned by insiders.

Prologis Price Performance

PLD traded up $1.11 during midday trading on Friday, hitting $123.88. 5,562,229 shares of the company traded hands, compared to its average volume of 3,851,597. The business has a 50 day simple moving average of $113.87 and a two-hundred day simple moving average of $118.05. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised 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. Barclays raised their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Wolfe Research decreased their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $128.78.

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.