Bessemer Group Inc. Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Bessemer Group Inc. decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 60.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 858,638 shares of the real estate investment trust's stock after selling 1,285,409 shares during the quarter. Bessemer Group Inc. owned about 0.09% of Prologis worth $90,758,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC boosted its holdings in shares of Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Prologis by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after acquiring an additional 334,907 shares during the period. Invesco Ltd. raised its holdings in shares of Prologis by 0.4% during the fourth quarter. Invesco Ltd. now owns 11,577,456 shares of the real estate investment trust's stock valued at $1,223,737,000 after purchasing an additional 44,702 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Prologis by 1.7% during 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 purchasing an additional 173,531 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 0.9 %

Prologis stock traded up $0.84 during midday trading on Tuesday, reaching $99.14. The company's stock had a trading volume of 2,152,741 shares, compared to its average volume of 4,149,091. The company has a market cap of $91.90 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.70 and a beta of 1.20. 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 business has a 50-day simple moving average of $112.93 and a 200-day simple moving average of $113.79. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.08%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PLD shares. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James reiterated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

Prologis 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.