Prologis, Inc. (NYSE:PLD) Shares Sold by Payden & Rygel

Payden & Rygel lessened its stake in Prologis, Inc. (NYSE:PLD) by 31.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 80,600 shares of the real estate investment trust’s stock after selling 37,100 shares during the period. Payden & Rygel’s holdings in Prologis were worth $8,519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Wedbush Securities Inc. lifted its stake in Prologis by 12.8% during the 4th quarter. Wedbush Securities Inc. now owns 11,433 shares of the real estate investment trust’s stock worth $1,208,000 after acquiring an additional 1,293 shares in the last quarter. Perennial Investment Advisors LLC increased its stake in Prologis by 8.2% during the fourth quarter. Perennial Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 200 shares during the period. Aviva PLC lifted its position in shares of Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Prologis during the fourth quarter worth about $55,512,000. Finally, Prudential PLC boosted its stake in shares of Prologis by 21.2% in the fourth quarter. Prudential PLC now owns 23,014 shares of the real estate investment trust’s stock valued at $2,433,000 after purchasing an additional 4,019 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 3.4 %

Shares of NYSE:PLD opened at $98.10 on Friday. Prologis, Inc. has a 1-year low of $95.34 and a 1-year high of $132.57. 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 stock has a market cap of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. The firm has a fifty day moving average price of $116.86 and a 200 day moving average price of $115.64.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

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.