TIAA Trust National Association Cuts Position in Prologis, Inc. (NYSE:PLD)

TIAA Trust National Association decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,510 shares of the real estate investment trust’s stock after selling 1,336 shares during the period. TIAA Trust National Association’s holdings in Prologis were worth $1,111,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Prologis by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent research reports. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $110.95 on Friday. The firm has a market cap of $102.84 billion, a P/E ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve 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 has a 50 day moving average of $117.72 and a 200 day moving average of $116.59.

Prologis Increases Dividend

The firm also recently disclosed 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 boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.