Prologis, Inc. (NYSE:PLD) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,615,708 shares of the real estate investment trust's stock after selling 132,500 shares during the period. Swiss National Bank owned approximately 0.28% of Prologis worth $276,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Principle Wealth Partners LLC raised its holdings in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Black Diamond Financial LLC increased its position in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank raised its stake in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PLD shares. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Barclays lifted 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. Finally, Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $128.78.

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Prologis Trading Down 1.3 %

Shares of PLD stock opened at $115.70 on Thursday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.27. The firm's 50 day moving average price is $116.65 and its two-hundred day moving average price is $117.78. The stock has a market cap of $107.23 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.49%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio is 101.00%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

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.

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