Prologis, Inc. (NYSE:PLD) Shares Sold by Atria Investments Inc

Atria Investments Inc decreased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,170 shares of the real estate investment trust's stock after selling 24,532 shares during the quarter. Atria Investments Inc's holdings in Prologis were worth $8,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock valued at $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust's stock valued at $1,099,569,000 after acquiring an additional 173,531 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Prologis by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock worth $631,266,000 after purchasing an additional 32,644 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

Prologis Stock Performance

NYSE:PLD traded down $0.41 during midday trading on Friday, reaching $119.89. The stock had a trading volume of 4,004,263 shares, compared to its average volume of 3,841,449. The firm has a fifty day simple moving average of $115.96 and a two-hundred day simple moving average of $118.02. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. 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 market cap of $111.12 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently announced 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 is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

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.