Duff & Phelps Investment Management Co. Trims Holdings in Prologis, Inc. (NYSE:PLD)

Duff & Phelps Investment Management Co. trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,902,254 shares of the real estate investment trust's stock after selling 14,597 shares during the period. Prologis comprises 3.7% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 3rd largest position. Duff & Phelps Investment Management Co. owned 0.31% of Prologis worth $306,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Prologis during the 4th quarter worth approximately $951,263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prologis by 534.7% in 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 worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Prologis during the 4th quarter valued at $254,876,000. Janus Henderson Group PLC boosted its position in 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 valued at $456,320,000 after buying an additional 2,138,693 shares during the period. Finally, Jennison Associates LLC grew its holdings in Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock worth $109,858,000 after acquiring an additional 829,504 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade 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 hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Price Performance

Shares of NYSE:PLD traded down $0.57 during midday trading on Tuesday, reaching $111.22. 1,137,858 shares of the company were exchanged, compared to its average volume of 3,908,834. 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 stock has a market cap of $103.09 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The business's fifty day moving average is $117.78 and its two-hundred day moving average is $116.11. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.63%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's payout ratio is 101.00%.

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.