Prologis, Inc. (NYSE:PLD) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 638,672 shares of the real estate investment trust's stock after selling 124,787 shares during the quarter. Korea Investment CORP owned about 0.07% of Prologis worth $67,508,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PLD. Empirical Asset Management LLC lifted its holdings 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 purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in 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 worth $94,391,000 after acquiring an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Prologis during the 3rd quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust's stock worth $92,048,000 after purchasing an additional 9,147 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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Prologis Stock Down 0.3 %

Prologis stock traded down $0.30 during midday trading on Tuesday, hitting $111.49. 3,359,860 shares of the stock were exchanged, compared to its average volume of 3,925,996. Prologis, Inc. has a 1 year low of $100.82 and a 1 year 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 firm has a market cap of $103.33 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a 50 day moving average price of $117.67 and a two-hundred day moving average price of $115.98.

Prologis Increases Dividend

The firm also recently disclosed 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. This represents a $4.04 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis 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 transaction 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 $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLD shares. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.