PGGM Investments Sells 56,574 Shares of Prologis, Inc. (NYSE:PLD)

PGGM Investments reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,976,306 shares of the real estate investment trust's stock after selling 56,574 shares during the period. Prologis accounts for about 2.8% of PGGM Investments' holdings, making the stock its 6th biggest holding. PGGM Investments owned approximately 0.21% of Prologis worth $208,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter valued at about $34,000. Finally, Coastline Trust Co acquired a new stake in shares of Prologis during the third quarter valued at about $52,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLD shares. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. 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 given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Prologis Stock Up 1.5 %

Shares of NYSE:PLD traded up $1.62 during trading on Friday, hitting $111.98. 4,732,659 shares of the company were exchanged, compared to its average volume of 3,660,684. The stock has a market capitalization of $103.79 billion, a P/E ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm's 50 day moving average price is $116.89 and its 200-day moving average price is $117.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is currently 101.00%.

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.