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

PGGM Investments lessened its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,976,306 shares of the real estate investment trust's stock after selling 56,574 shares during the period. Prologis makes up 2.8% of PGGM Investments' portfolio, making the stock its 6th biggest position. PGGM Investments owned about 0.21% of Prologis worth $208,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Prologis by 534.7% during the 3rd 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 acquiring an additional 8,545,336 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Prologis in the fourth quarter valued at about $254,876,000. Janus Henderson Group PLC raised its stake in Prologis by 145.0% during the third 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 in the last quarter. Cardano Risk Management B.V. acquired a new stake in Prologis during the third quarter valued at approximately $109,579,000. Finally, Jennison Associates LLC lifted its holdings in Prologis by 395.3% during 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 buying an additional 829,504 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLD shares. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Price Performance

NYSE:PLD traded up $1.62 during midday trading on Friday, hitting $111.98. 4,732,659 shares of the stock were exchanged, compared to its average volume of 3,673,296. The business has a 50-day moving average price of $116.89 and a two-hundred day moving average price of $117.61. 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 company has a market capitalization of $103.79 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. Prologis's dividend payout ratio is 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

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.