Amundi Sells 409,415 Shares of Prologis, Inc. (NYSE:PLD)

Amundi lowered its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,102,886 shares of the real estate investment trust's stock after selling 409,415 shares during the quarter. Amundi owned approximately 0.44% of Prologis worth $432,854,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLD. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Prologis during the fourth quarter valued at about $34,000. Promus Capital LLC bought a new position in Prologis in the fourth quarter worth about $34,000. Finally, Coastline Trust Co purchased a new stake in Prologis in the third quarter worth about $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

PLD stock traded down $1.95 during midday trading on Monday, reaching $117.97. 4,208,756 shares of the company's stock traded hands, compared to its average volume of 3,849,146. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock's 50-day moving average is $115.96 and its 200 day moving average is $117.93. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $109.34 billion, a P/E ratio of 29.49, a PEG ratio of 2.70 and a beta of 1.09.

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Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is currently 101.00%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business'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 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 approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLD. Scotiabank reduced their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. 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. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Finally, Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. 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. According to MarketBeat.com, Prologis presently has an average rating of "Moderate Buy" and an average target price of $128.78.

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.