Prologis, Inc. (NYSE:PLD) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its position in shares of Prologis, Inc. (NYSE:PLD) by 16.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 638,672 shares of the real estate investment trust’s stock after selling 124,787 shares during the quarter. Korea Investment CORP’s holdings in Prologis were worth $67,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PLD. State Street Corp increased its holdings in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC increased its stake in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Prologis by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 purchasing an additional 8,545,336 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued 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.

Prologis Stock Performance

Shares of PLD opened at $110.95 on Friday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The stock has a market capitalization of $102.84 billion, a PE ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a 50-day simple moving average of $117.72 and a 200-day simple moving average of $116.59.

Prologis Increases Dividend

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

Insiders Place Their Bets

In other 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

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.