Prologis, Inc. (NYSE:PLD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,153,059 shares of the real estate investment trust's stock after selling 284,315 shares during the period. Wellington Management Group LLP owned about 0.34% of Prologis worth $333,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at $951,263,000. Raymond James Financial Inc. purchased a new position in shares of Prologis during the fourth quarter worth about $254,876,000. Janus Henderson Group PLC increased its position in shares of 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 worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Prologis by 59.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after purchasing an additional 964,454 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

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Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction 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 company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PLD shares. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. 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 company. According to data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Price Performance

Shares of PLD stock traded down $10.92 during trading hours on Thursday, hitting $101.43. The company's stock had a trading volume of 7,612,428 shares, compared to its average volume of 3,942,217. 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 business has a fifty day moving average of $117.27 and a 200-day moving average of $115.85. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The stock has a market cap of $94.01 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business 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 an increase 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 3.98%. Prologis's dividend payout ratio (DPR) is presently 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.