Cannell & Spears LLC decreased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 177,837 shares of the real estate investment trust's stock after selling 24,970 shares during the period. Cannell & Spears LLC's holdings in Prologis were worth $18,797,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC raised its holdings in shares of Prologis by 12.5% in the 3rd quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust's stock valued at $1,933,000 after purchasing an additional 1,705 shares in the last quarter. Bridgewater Associates LP raised its stake in Prologis by 4.0% in the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock worth $338,000 after buying an additional 103 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Prologis by 31.0% in the third quarter. Glenmede Trust Co. NA now owns 29,171 shares of the real estate investment trust's stock worth $3,684,000 after buying an additional 6,905 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in Prologis by 46.4% during the third quarter. CreativeOne Wealth LLC now owns 5,973 shares of the real estate investment trust's stock worth $754,000 after buying an additional 1,893 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Prologis by 569.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 414,273 shares of the real estate investment trust's stock valued at $52,314,000 after acquiring an additional 352,412 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Prologis Stock Performance
Shares of PLD stock traded up $1.07 on Wednesday, hitting $112.52. The company had a trading volume of 3,229,670 shares, compared to its average volume of 3,923,236. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. 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 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 50-day moving average price of $117.67 and a 200-day moving average price of $115.98.
Prologis Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.59%. Prologis's payout ratio is presently 101.00%.
Insider Transactions at Prologis
In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $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 available at the SEC website. Corporate insiders own 0.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on PLD shares. UBS Group upped their price objective on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Mizuho lowered their target price 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. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Truist Financial raised their price target on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.
Check Out Our Latest Report on PLD
Prologis Company Profile
(
Free Report)
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.
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