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

Bailard Inc. lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 99,502 shares of the real estate investment trust’s stock after selling 3,031 shares during the period. Bailard Inc.’s holdings in Prologis were worth $10,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position 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 valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Prologis by 0.5% during 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 acquiring an additional 32,644 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLD shares. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Up 0.9 %

Shares of NYSE:PLD opened at $123.88 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $114.82 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The firm’s 50-day moving average is $114.28 and its two-hundred day moving average is $118.05. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

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 paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. Prologis’s dividend payout ratio is 101.00%.

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.