Prologis, Inc. (NYSE:PLD) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 62.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,532 shares of the real estate investment trust's stock after selling 2,600 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Prologis were worth $162,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter valued at $30,000. Dunhill Financial LLC grew its position 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 worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

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Prologis Trading Up 1.0 %

Shares of Prologis stock traded up $1.07 during mid-day trading on Wednesday, hitting $112.52. The stock had a trading volume of 3,229,670 shares, compared to its average volume of 3,926,167. The firm has a 50-day moving average of $117.61 and a two-hundred day moving average of $115.95. The firm has a market cap of $104.29 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.59%. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PLD shares. Royal Bank of Canada lifted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday, January 27th. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Monday, January 27th. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

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.