Prudential Financial Inc. Lowers Position in Prologis, Inc. (NYSE:PLD)

Prudential Financial Inc. trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,880,533 shares of the real estate investment trust’s stock after selling 11,056 shares during the period. Prologis comprises approximately 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 25th biggest holding. Prudential Financial Inc.’s holdings in Prologis were worth $410,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at approximately $30,000. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. Finally, Promus Capital LLC purchased a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research analyst reports. Wolfe Research reduced their price objective 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. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Royal Bank of Canada raised their price target 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. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 3.4 %

Shares of NYSE PLD opened at $108.27 on Monday. The business has a 50-day moving average of $117.54 and a two-hundred day moving average of $116.92. The company has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 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.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio 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.