Prologis, Inc. (NYSE:PLD) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC lessened its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,391,033 shares of the real estate investment trust's stock after selling 64,327 shares during the period. Prologis makes up about 7.1% of Centersquare Investment Management LLC's investment portfolio, making the stock its 2nd largest position. Centersquare Investment Management LLC owned about 0.69% of Prologis worth $675,532,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLD. Benjamin Edwards Inc. lifted its position in Prologis by 736.6% in the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust's stock worth $2,986,000 after buying an additional 20,815 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Prologis by 19.7% in the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust's stock valued at $21,500,000 after acquiring an additional 27,923 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Prologis by 20.4% in the 3rd quarter. IHT Wealth Management LLC now owns 10,532 shares of the real estate investment trust's stock worth $1,327,000 after acquiring an additional 1,781 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Prologis by 3.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 672,479 shares of the real estate investment trust's stock worth $84,921,000 after purchasing an additional 21,013 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Prologis by 15.4% during the 3rd quarter. Quantinno Capital Management LP now owns 71,719 shares of the real estate investment trust's stock valued at $9,057,000 after purchasing an additional 9,577 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company's stock.

Prologis Stock Down 3.9 %

Shares of NYSE:PLD traded down $3.81 during trading on Monday, reaching $94.42. The stock had a trading volume of 12,716,322 shares, compared to its average volume of 4,005,727. The firm's 50-day simple moving average is $116.86 and its 200 day simple moving average is $115.46. 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, Inc. has a one year low of $91.77 and a one year high of $132.57. The company has a market capitalization of $87.52 billion, a P/E ratio of 23.60, a PEG ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 4.28%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLD shares. Scotiabank reissued a "sector underperform" rating and issued a $97.00 price objective (down previously from $133.00) on shares of Prologis in a research note on Monday. Raymond James reiterated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.78.

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.