Prologis, Inc. (NYSE:PLD) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 508,277 shares of the real estate investment trust's stock after selling 298,282 shares during the quarter. National Bank of Canada FI owned 0.05% of Prologis worth $53,725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 182 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the 4th quarter worth about $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

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Prologis Trading Down 3.4 %

NYSE:PLD traded down $3.49 during trading hours on Friday, hitting $98.10. The company had a trading volume of 12,661,108 shares, compared to its average volume of 3,970,889. Prologis, Inc. has a 1 year low of $95.34 and a 1 year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $116.86 and a 200 day moving average of $115.54. The company has a market cap of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. Prologis's payout ratio is 101.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Robert W. Baird boosted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a report on Monday, January 27th. 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, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

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.