Sei Investments Co. Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Sei Investments Co. lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,288,172 shares of the real estate investment trust's stock after selling 39,318 shares during the period. Sei Investments Co. owned 0.25% of Prologis worth $241,861,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Moors & Cabot Inc. increased its stake in Prologis by 6.0% in the third quarter. Moors & Cabot Inc. now owns 2,096 shares of the real estate investment trust's stock valued at $265,000 after purchasing an additional 119 shares in the last quarter. Cornerstone Advisors LLC raised its stake in Prologis by 263.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 8,000 shares of the real estate investment trust's stock worth $1,010,000 after buying an additional 5,800 shares during the period. King Luther Capital Management Corp boosted its holdings in Prologis by 165.3% in the third quarter. King Luther Capital Management Corp now owns 58,895 shares of the real estate investment trust's stock worth $7,437,000 after acquiring an additional 36,693 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Prologis by 9.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 197,854 shares of the real estate investment trust's stock valued at $24,985,000 after acquiring an additional 16,310 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Prologis by 24.1% during the third quarter. LPL Financial LLC now owns 814,914 shares of the real estate investment trust's stock valued at $102,907,000 after acquiring an additional 158,211 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several analysts recently issued reports on PLD shares. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Raymond James restated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average price target of $128.78.

Prologis Stock Performance

Prologis stock traded up $1.84 during midday trading on Wednesday, reaching $111.07. The stock had a trading volume of 3,246,019 shares, compared to its average volume of 3,693,113. The firm has a market capitalization of $102.94 billion, a PE ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average price is $117.66 and its 200 day moving average price is $116.67.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm'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 transaction, the executive now directly 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 owned by insiders.

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.