National Bank of Canada FI Sells 298,282 Shares of Prologis, Inc. (NYSE:PLD)

National Bank of Canada FI lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 37.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 508,277 shares of the real estate investment trust’s stock after selling 298,282 shares during the period. National Bank of Canada FI’s holdings in Prologis were worth $53,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Norges Bank acquired a new position in Prologis in the 4th quarter valued at $951,263,000. Raymond James Financial Inc. bought a new stake in shares of Prologis in the fourth quarter valued at about $254,876,000. Janus Henderson Group PLC grew its stake in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock worth $399,528,000 after acquiring an additional 1,723,129 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in Prologis by 59.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust’s stock worth $272,642,000 after purchasing an additional 964,454 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.3 %

Shares of PLD stock opened at $111.49 on Wednesday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The stock’s fifty day simple moving average is $117.67 and its 200 day simple moving average is $115.98. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $103.33 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Activity

In other Prologis 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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 research report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research cut 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.