Prologis, Inc. (NYSE:PLD) Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 638,672 shares of the real estate investment trust’s stock after selling 124,787 shares during the period. Korea Investment CORP owned approximately 0.07% of Prologis worth $67,508,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLD shares. UBS Group boosted their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial lifted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 0.2 %

Shares of PLD opened at $110.95 on Friday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The stock has a market cap of $102.84 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average is $117.72 and its two-hundred day moving average is $116.59. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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 given a dividend of $1.01 per share. 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 yield of 3.64%. Prologis’s payout ratio is presently 101.00%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate 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.