Prologis, Inc. (NYSE:PLD) Stock Holdings Lessened by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 53.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,000 shares of the real estate investment trust’s stock after selling 56,110 shares during the period. Intact Investment Management Inc.’s holdings in Prologis were worth $5,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Harbour Investments Inc. increased its holdings in Prologis by 13.2% in the third quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 364 shares during the last quarter. ING Groep NV increased its holdings in Prologis by 1.1% in the third quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock worth $15,791,000 after buying an additional 1,378 shares during the last quarter. Balboa Wealth Partners acquired a new position in Prologis during the third quarter valued at approximately $262,000. CIBC Asset Management Inc grew its holdings in Prologis by 11.3% during the third quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock valued at $23,740,000 after purchasing an additional 19,029 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its holdings in Prologis by 5.0% during the third quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock valued at $23,163,000 after purchasing an additional 8,766 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PLD shares. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets downgraded 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 issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Up 1.5 %

Shares of PLD stock opened at $111.98 on Friday. The stock has a market cap of $103.79 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a fifty day moving average price of $116.89 and a 200 day moving average price of $117.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.