Prologis, Inc. (NYSE:PLD) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,779 shares of the real estate investment trust’s stock after selling 780 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Prologis were worth $7,904,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC raised its position in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in shares of Prologis during the 3rd quarter worth $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prologis during the third quarter worth $7,371,000. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Prologis in the third quarter valued at $1,230,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.

Prologis Trading Down 0.4 %

Shares of NYSE PLD opened at $122.11 on Thursday. The stock has a market capitalization of $113.18 billion, a P/E ratio of 30.53, a PEG ratio of 2.70 and a beta of 1.10. The stock’s 50 day moving average price is $113.44 and its two-hundred day moving average price is $118.02. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date is 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 3.31%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

Several analysts have commented on PLD shares. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.