Advisors Asset Management Inc. Has $4.94 Million Stake in Prologis, Inc. (NYSE:PLD)

Advisors Asset Management Inc. trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 29.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,740 shares of the real estate investment trust's stock after selling 19,782 shares during the period. Advisors Asset Management Inc.'s holdings in Prologis were worth $4,940,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its holdings in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock worth $7,250,157,000 after buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Prologis by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust's stock worth $1,099,569,000 after acquiring an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock valued at $631,266,000 after purchasing an additional 32,644 shares during the period. 93.50% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research firms recently commented on PLD. Royal Bank of Canada increased their target price on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Scotiabank decreased their price objective 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. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Finally, BMO Capital Markets cut shares of Prologis from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on 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 directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

NYSE:PLD traded up $1.93 on Monday, hitting $110.35. The company's stock had a trading volume of 5,379,410 shares, compared to its average volume of 3,697,321. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a fifty day moving average of $117.54 and a two-hundred day moving average of $116.92. The firm has a market capitalization of $102.28 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) 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.