Franklin Resources Inc. Has $283.37 Million Stake in Prologis, Inc. (NYSE:PLD)

Franklin Resources Inc. cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,680,909 shares of the real estate investment trust's stock after selling 37,534 shares during the period. Franklin Resources Inc. owned approximately 0.29% of Prologis worth $283,372,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Prologis during the 4th quarter valued at $951,263,000. Raymond James Financial Inc. acquired a new stake in Prologis during the 4th quarter valued at $254,876,000. Janus Henderson Group PLC lifted its holdings in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Prologis by 59.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after buying an additional 964,454 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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Prologis Stock Performance

Shares of NYSE PLD traded down $3.49 during trading hours on Friday, reaching $98.10. The stock had a trading volume of 12,661,108 shares, compared to its average volume of 3,970,889. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a twelve month low of $95.34 and a twelve month high of $132.57. The business's fifty day moving average is $116.86 and its two-hundred day moving average is $115.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given 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 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, March 18th. Prologis's payout ratio is 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLD. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Robert W. Baird lifted 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. Royal Bank of Canada boosted their target price on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Truist Financial raised their price target on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

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.