Prologis, Inc. (NYSE:PLD) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lowered its holdings in Prologis, Inc. (NYSE:PLD) by 4.7% during the fourth quarter, HoldingsChannel reports. The fund owned 29,488 shares of the real estate investment trust’s stock after selling 1,470 shares during the period. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after buying an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB lifted its position in Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after acquiring an additional 80,575 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $121.01 on Friday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a 50-day moving average price of $112.56 and a 200 day moving average price of $118.01. The company has a market cap of $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued 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 dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Insider Activity at Prologis

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

Analyst Ratings Changes

PLD has been the topic of several research reports. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price 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.