Prologis, Inc. (NYSE:PLD) Shares Sold by PGGM Investments

PGGM Investments lowered its position in Prologis, Inc. (NYSE:PLD) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,976,306 shares of the real estate investment trust’s stock after selling 56,574 shares during the period. Prologis accounts for approximately 2.8% of PGGM Investments’ portfolio, making the stock its 6th largest position. PGGM Investments owned 0.21% of Prologis worth $208,896,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Prologis by 534.7% in the third 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 valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Raymond James Financial Inc. bought a new position in shares of Prologis in the 4th quarter worth about $254,876,000. Janus Henderson Group PLC raised its position in shares of Prologis by 145.0% in 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 acquiring an additional 2,138,693 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Prologis in the 3rd quarter valued at about $109,579,000. Finally, Jennison Associates LLC boosted its position 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 valued at $109,858,000 after purchasing an additional 829,504 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Down 1.3 %

PLD stock opened at $115.70 on Thursday. The firm has a market capitalization of $107.23 billion, a PE ratio of 28.92, a P/E/G ratio of 2.70 and a beta of 1.09. 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 twelve month low of $100.82 and a twelve month high of $135.27. The stock’s 50 day moving average is $116.65 and its 200-day moving average is $117.78.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.49%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on PLD shares. Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wolfe Research dropped 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. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, BTIG Research cut their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Transactions at Prologis

In other Prologis 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

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.