Flputnam Investment Management Co. Sells 6,771 Shares of Prologis, Inc. (NYSE:PLD)

Flputnam Investment Management Co. reduced its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,257 shares of the real estate investment trust's stock after selling 6,771 shares during the period. Flputnam Investment Management Co.'s holdings in Prologis were worth $3,727,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA increased its stake in shares of Prologis by 10.3% in the fourth quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust's stock worth $442,000 after purchasing an additional 391 shares during the period. First American Bank increased its stake in shares of Prologis by 1.6% in the fourth quarter. First American Bank now owns 39,103 shares of the real estate investment trust's stock worth $4,133,000 after purchasing an additional 604 shares during the period. QRG Capital Management Inc. increased its stake in shares of Prologis by 16.3% in the fourth quarter. QRG Capital Management Inc. now owns 100,697 shares of the real estate investment trust's stock worth $10,644,000 after purchasing an additional 14,132 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Prologis by 18,374.0% in the fourth quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust's stock worth $346,000 after purchasing an additional 344,513 shares during the period. Finally, Schnieders Capital Management LLC increased its stake in shares of Prologis by 2.6% in the fourth quarter. Schnieders Capital Management LLC now owns 7,378 shares of the real estate investment trust's stock worth $780,000 after purchasing an additional 190 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLD. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Monday, January 27th. Wolfe Research dropped 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. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday, January 27th. Robert W. Baird upped their price target on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Shares of PLD stock traded up $1.11 during trading hours on Friday, hitting $123.88. The company had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The firm's fifty day moving average is $114.28 and its 200 day moving average is $118.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. 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 dividend on an annualized basis and a yield of 3.26%. Prologis's dividend payout ratio is 101.00%.

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.