TIAA Trust National Association Trims Stock Position in Prologis, Inc. (NYSE:PLD)

TIAA Trust National Association decreased its holdings in Prologis, Inc. (NYSE:PLD) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,510 shares of the real estate investment trust’s stock after selling 1,336 shares during the quarter. TIAA Trust National Association’s holdings in Prologis were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Crowley Wealth Management Inc. bought a new position in Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter worth $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter valued at $34,000. Finally, Promus Capital LLC bought a new stake in Prologis during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $110.95 on Friday. The firm’s fifty day simple moving average is $117.72 and its two-hundred day simple moving average is $116.59. The firm has a market capitalization of $102.84 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLD. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird lifted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

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.