Prologis, Inc. (NYSE:PLD) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank cut its stake in Prologis, Inc. (NYSE:PLD) by 13.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,773 shares of the real estate investment trust’s stock after selling 580 shares during the period. Cape ANN Savings Bank’s holdings in Prologis were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLD. AMF Tjanstepension AB increased its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Prologis by 9,354.5% in the third quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust’s stock valued at $54,920,000 after purchasing an additional 430,308 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Prologis by 14.5% in the third quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust’s stock valued at $3,603,000 after purchasing an additional 3,614 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Prologis by 19.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,985 shares of the real estate investment trust’s stock worth $13,898,000 after purchasing an additional 19,193 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in Prologis by 13.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 15,195 shares of the real estate investment trust’s stock valued at $1,919,000 after purchasing an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLD. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One equities research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Up 0.1 %

Shares of NYSE PLD opened at $121.01 on Monday. The stock has a market cap of $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The business’s fifty day simple moving average is $112.56 and its 200-day simple moving average is $117.99. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.