Tobam Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Tobam lessened its position in Prologis, Inc. (NYSE:PLD) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 802 shares of the real estate investment trust’s stock after selling 236 shares during the period. Tobam’s holdings in Prologis were worth $85,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empirical Asset Management LLC grew its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Sunflower Bank N.A. bought a new stake in shares of Prologis during the 3rd quarter valued at $249,000. Cardano Risk Management B.V. lifted its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis during the third quarter worth $1,051,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 1.0 %

NYSE PLD opened at $117.39 on Friday. The stock has a market cap of $108.72 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $111.10 and a two-hundred day simple moving average of $118.30. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

About Prologis

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.