Baillie Gifford & Co. Sells 133,216 Shares of Prologis, Inc. (NYSE:PLD)

Baillie Gifford & Co. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 67.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,001 shares of the real estate investment trust’s stock after selling 133,216 shares during the period. Baillie Gifford & Co.’s holdings in Prologis were worth $6,659,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Secured Retirement Advisors LLC grew its holdings in Prologis by 24.6% in the 4th quarter. Secured Retirement Advisors LLC now owns 11,857 shares of the real estate investment trust’s stock worth $1,253,000 after acquiring an additional 2,343 shares during the last quarter. Principal Securities Inc. grew its holdings in Prologis by 3.8% in the 4th quarter. Principal Securities Inc. now owns 22,067 shares of the real estate investment trust’s stock worth $2,332,000 after acquiring an additional 808 shares during the last quarter. Montag A & Associates Inc. grew its holdings in Prologis by 109.0% in the 4th quarter. Montag A & Associates Inc. now owns 767 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 400 shares during the last quarter. Spinnaker Trust grew its holdings in Prologis by 4.1% in the 4th quarter. Spinnaker Trust now owns 49,643 shares of the real estate investment trust’s stock worth $5,247,000 after acquiring an additional 1,971 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in Prologis by 0.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,013,203 shares of the real estate investment trust’s stock worth $107,096,000 after acquiring an additional 3,669 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.3 %

Shares of Prologis stock opened at $121.21 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market capitalization of $112.26 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a 50-day simple moving average of $111.82 and a two-hundred day simple moving average of $117.99.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on PLD. Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Mizuho dropped their target price 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. Truist Financial raised 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. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were 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 approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

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.