Commerce Bank Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Commerce Bank decreased its position in Prologis, Inc. (NYSE:PLD) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 530,704 shares of the real estate investment trust’s stock after selling 79,524 shares during the quarter. Commerce Bank owned approximately 0.06% of Prologis worth $56,095,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLD. Empirical Asset Management LLC lifted its position in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its holdings in shares of Prologis by 2.9% during 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 purchasing an additional 25,266 shares during the last quarter. Aviva PLC boosted its position in shares of Prologis by 36.6% in the 4th 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. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after buying an additional 39,321 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Trading Up 1.6 %

Shares of NYSE:PLD opened at $101.89 on Friday. The stock’s 50-day simple moving average is $111.84 and its two-hundred day simple moving average is $113.42. The stock has a market capitalization of $94.45 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. 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 (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho dropped their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Finally, Wolfe Research reduced their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.32.

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.