Groupama Asset Managment Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Groupama Asset Managment reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,966 shares of the real estate investment trust's stock after selling 14,458 shares during the period. Groupama Asset Managment's holdings in Prologis were worth $3,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Empirical Asset Management LLC grew its position in 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 acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in shares of Prologis by 2.9% in the fourth 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Prologis during the 3rd quarter worth approximately $1,051,000. Finally, Allstate Corp lifted its holdings in Prologis by 111.7% during the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after buying an additional 39,321 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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Prologis Stock Performance

Shares of PLD traded down $3.49 during midday trading on Friday, reaching $98.10. 12,661,108 shares of the stock were exchanged, compared to its average volume of 3,970,889. Prologis, Inc. has a twelve month low of $95.34 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. The business's 50-day moving average price is $116.86 and its 200 day moving average price is $115.54.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.12%. Prologis's payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was 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.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent research reports. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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.