Prologis, Inc. (NYSE:PLD) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,564,050 shares of the real estate investment trust's stock after selling 114,201 shares during the quarter. Bank of Montreal Can owned about 0.28% of Prologis worth $271,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented 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. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Finally, Scotiabank reissued a "sector underperform" rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.78.

Prologis Stock Performance

Shares of Prologis stock traded up $1.25 on Friday, reaching $96.14. 6,480,061 shares of the company were exchanged, compared to its average volume of 4,145,840. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The firm has a market cap of $89.12 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company's 50-day moving average is $113.34 and its two-hundred day moving average is $113.98.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is 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.