Erste Asset Management GmbH Trims Holdings in Prologis, Inc. (NYSE:PLD)

Erste Asset Management GmbH cut its stake in Prologis, Inc. (NYSE:PLD) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,455 shares of the real estate investment trust’s stock after selling 10,354 shares during the quarter. Erste Asset Management GmbH’s holdings in Prologis were worth $12,363,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Prologis in the fourth quarter worth approximately $254,876,000. Janus Henderson Group PLC increased its stake in Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in Prologis in the third quarter valued at $109,579,000. Finally, Jennison Associates LLC lifted its stake in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after purchasing an additional 829,504 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. 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. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Truist Financial upped their target price 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, BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity at Prologis

In other 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 4.8 %

PLD opened at $110.17 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $100.82 and a one year high of $133.18. The company has a market cap of $102.11 billion, a P/E ratio of 27.54, a PEG ratio of 2.70 and a beta of 1.09. The business’s 50-day simple moving average is $116.77 and its 200-day simple moving average is $117.72.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.67%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Prologis Company 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.