Elo Mutual Pension Insurance Co Decreases Stake in Prologis, Inc. (NYSE:PLD)

Elo Mutual Pension Insurance Co cut its position in Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,497 shares of the real estate investment trust's stock after selling 3,495 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Prologis were worth $8,931,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLD. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter worth approximately $26,000. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 182 shares during the period. Crowley Wealth Management Inc. bought a new stake in Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth about $30,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 0.5 %

PLD stock traded up $0.56 during trading on Monday, reaching $111.01. The stock had a trading volume of 838,423 shares, compared to its average volume of 3,886,107. 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 company has a market capitalization of $102.89 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company's 50 day moving average is $117.74 and its two-hundred day moving average is $116.24.

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Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. Prologis's dividend payout ratio is currently 101.00%.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. UBS Group increased their target price 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. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

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.