Prologis, Inc. (NYSE:PLD) is Aew Capital Management L P’s 2nd Largest Position

Aew Capital Management L P decreased its holdings in Prologis, Inc. (NYSE:PLD) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,827,221 shares of the real estate investment trust’s stock after selling 214,800 shares during the period. Prologis accounts for about 9.3% of Aew Capital Management L P’s holdings, making the stock its 2nd biggest position. Aew Capital Management L P owned 0.20% of Prologis worth $193,137,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC grew its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter valued at approximately $34,000. Hara Capital LLC purchased a new position in Prologis during the third quarter valued at approximately $48,000. Finally, Coastline Trust Co purchased a new position in Prologis in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLD. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Up 0.9 %

Shares of Prologis stock 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 company has a 50-day moving average of $114.28 and a 200 day moving average of $118.08. The firm has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. 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. Investors 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 3.26%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is 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.