Voya Investment Management LLC Sells 26,406 Shares of Prologis, Inc. (NYSE:PLD)

Voya Investment Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 381,064 shares of the real estate investment trust's stock after selling 26,406 shares during the quarter. Voya Investment Management LLC's holdings in Prologis were worth $40,278,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its position in shares of Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after purchasing an additional 610,251 shares in the last quarter. FMR LLC boosted its stake in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLD. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Mizuho dropped their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis has an average rating of "Moderate Buy" and an average price target of $123.32.

Prologis Trading Up 1.2 %

Shares of PLD traded up $1.19 during midday trading on Monday, hitting $103.43. The stock had a trading volume of 3,148,821 shares, compared to its average volume of 4,144,573. The stock's 50 day moving average is $109.11 and its 200 day moving average is $112.36. The firm has a market cap of $95.88 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.91%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is presently 101.00%.

Prologis Company 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.