Prologis, Inc. (NYSE:PLD) Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,287,476 shares of the real estate investment trust's stock after selling 180,154 shares during the quarter. Prologis makes up about 2.4% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 10th largest holding. Cbre Investment Management Listed Real Assets LLC owned approximately 0.14% of Prologis worth $136,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PLD. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the fourth quarter worth approximately $30,000. Dunhill Financial LLC lifted its stake in 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 during the last quarter. Whipplewood Advisors LLC bought a new position in Prologis during the fourth quarter worth $34,000. Hara Capital LLC bought a new position in Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co bought a new position in Prologis during the third quarter worth $52,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLD. Raymond James restated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Insider Buying and Selling

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 transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

NYSE:PLD traded up $2.30 during mid-day trading on Wednesday, reaching $124.08. 4,300,608 shares of the stock were exchanged, compared to its average volume of 3,831,886. The business has a fifty day moving average price of $115.40 and a 200 day moving average price of $118.03. The firm has a market capitalization of $115.00 billion, a PE ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued 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 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

About Prologis

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.