Vanguard Group Inc. Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Vanguard Group Inc. lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 120,470,100 shares of the real estate investment trust’s stock after selling 445,026 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Prologis worth $12,733,690,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC grew its stake in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Prologis during the 4th quarter valued at about $30,000. Promus Capital LLC purchased a new stake in Prologis during the 4th quarter valued at about $34,000. Whipplewood Advisors LLC purchased a new stake in Prologis during the 4th quarter valued at about $34,000. Finally, Asset Planning Inc purchased a new stake in Prologis during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PLD. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $108.27 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 business has a 50 day simple moving average of $117.54 and a 200-day simple moving average of $116.99. The firm has a market capitalization of $100.35 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57.

Prologis Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend 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 dividend yield of 3.73%. Prologis’s dividend payout ratio is 101.00%.

About Prologis

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.