Mutual of America Capital Management LLC Has $11.73 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Mutual of America Capital Management LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 110,947 shares of the real estate investment trust's stock after selling 3,065 shares during the period. Mutual of America Capital Management LLC's holdings in Prologis were worth $11,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Asset Management LLC raised its position in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. raised its position in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of Prologis in the 3rd quarter valued at approximately $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Prologis in the 3rd quarter valued at approximately $7,371,000. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Prologis in the 3rd quarter valued at approximately $1,230,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE:PLD traded up $1.11 on Friday, hitting $123.88. The company's stock 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 company has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The stock's 50-day moving average is $114.28 and its two-hundred 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. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLD shares. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a report on Monday, January 27th. Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Robert W. Baird boosted 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. Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Insider Transactions at Prologis

In other 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 value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.50% 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.