Prologis, Inc. (NYSE:PLD) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 6.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,378 shares of the real estate investment trust’s stock after selling 247 shares during the quarter. Jacobi Capital Management LLC’s holdings in Prologis were worth $357,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of Prologis during the 3rd quarter worth about $109,579,000. Jennison Associates LLC boosted its stake in shares of Prologis by 395.3% during the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Up 0.9 %

PLD opened at $123.88 on Monday. The firm has a market capitalization of $114.82 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10. The firm’s 50 day moving average is $114.28 and its 200-day moving average is $118.01. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLD shares. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. 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. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares in the company, valued at $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 SEC, which is available at this hyperlink. 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.