Westpac Banking Corp Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Westpac Banking Corp trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,512 shares of the real estate investment trust's stock after selling 12,090 shares during the period. Westpac Banking Corp's holdings in Prologis were worth $8,722,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Empirical Asset Management LLC raised its position in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its stake in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis during the third quarter valued at approximately $1,051,000. Finally, Allstate Corp lifted its stake in Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock worth $7,877,000 after acquiring an additional 39,321 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's 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 transaction, the executive now directly 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 document filed with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company's stock.

Prologis Stock Down 4.7 %

Prologis stock traded down $4.58 during trading hours on Monday, hitting $93.65. The stock had a trading volume of 8,294,093 shares, compared to its average volume of 3,990,528. The stock's 50-day moving average price is $116.86 and its 200-day moving average price is $115.46. Prologis, Inc. has a 12-month low of $91.77 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 stock has a market capitalization of $86.81 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

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 given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 4.31%. Prologis's dividend payout ratio is 101.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. 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. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.78.

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.