Pacer Advisors Inc. Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Pacer Advisors Inc. reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 290,828 shares of the real estate investment trust's stock after selling 32,906 shares during the quarter. Pacer Advisors Inc.'s holdings in Prologis were worth $30,741,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock worth $456,320,000 after buying an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB grew its position in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after buying an additional 1,365,811 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Prologis by 547.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust's stock valued at $116,129,000 after acquiring an additional 874,411 shares in the last quarter. Finally, Cardano Risk Management B.V. bought a new stake in Prologis in the third quarter valued at $109,579,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.8 %

PLD traded down $1.02 during trading on Tuesday, hitting $120.23. 3,494,605 shares of the stock traded hands, compared to its average volume of 4,804,889. The firm has a market capitalization of $111.35 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a 50-day moving average of $110.63 and a 200 day moving average of $118.41.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, December 16th. Prologis's payout ratio is 96.00%.

Analyst Ratings Changes

Several research firms have recently commented on PLD. BNP Paribas upgraded Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Raymond James reissued an "outperform" rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Finally, Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $128.72.

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.