Federated Hermes Inc. Increases Position in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,927,825 shares of the real estate investment trust's stock after buying an additional 15,055 shares during the period. Prologis makes up approximately 0.7% of Federated Hermes Inc.'s investment portfolio, making the stock its 24th biggest holding. Federated Hermes Inc. owned 0.32% of Prologis worth $309,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after acquiring an additional 610,251 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after buying an additional 334,907 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Prologis by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust's stock valued at $1,099,569,000 after purchasing an additional 173,531 shares during the period. Norges Bank purchased a new position in Prologis during the fourth quarter worth about $951,263,000. Finally, Bank of New York Mellon Corp raised its position in Prologis by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock valued at $631,266,000 after purchasing an additional 32,644 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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Prologis Trading Down 0.2 %

Prologis stock traded down $0.15 during mid-day trading on Friday, hitting $94.75. 2,526,629 shares of the company's stock were exchanged, compared to its average volume of 4,128,706. The company's 50 day simple moving average is $113.79 and its 200-day simple moving average is $114.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week 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 capitalization of $87.83 billion, a P/E ratio of 23.65, a PEG ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.26%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on 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 sale, 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 the SEC website. Insiders own 0.56% of the company's stock.

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.