Natixis Advisors LLC Sells 228,059 Shares of Prologis, Inc. (NYSE:PLD)

Natixis Advisors LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,143,166 shares of the real estate investment trust’s stock after selling 228,059 shares during the quarter. Natixis Advisors LLC’s holdings in Prologis were worth $120,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harrington Investments INC grew its position in shares of Prologis by 1.3% during the 4th quarter. Harrington Investments INC now owns 15,562 shares of the real estate investment trust’s stock valued at $1,645,000 after acquiring an additional 195 shares during the period. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $1,633,000. Catalyst Funds Management Pty Ltd lifted its stake in Prologis by 438.6% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 23,700 shares of the real estate investment trust’s stock worth $2,505,000 after purchasing an additional 19,300 shares in the last quarter. Sienna Gestion purchased a new stake in Prologis in the 4th quarter worth approximately $5,686,000. Finally, Analyst IMS Investment Management Services Ltd. lifted its stake in Prologis by 13.8% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 4,368 shares of the real estate investment trust’s stock worth $462,000 after purchasing an additional 529 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $111.98 on Friday. The firm has a market cap of $103.79 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $116.89 and its two-hundred day simple moving average is $117.61.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

Several analysts have issued reports on PLD shares. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Scotiabank lowered their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target 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.