Prologis, Inc. (NYSE:PLD) Stake Reduced by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,041 shares of the real estate investment trust’s stock after selling 55,617 shares during the quarter. Truist Financial Corp’s holdings in Prologis were worth $28,755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empirical Asset Management LLC grew its stake in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter worth $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Prologis in the third quarter worth $7,371,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Up 0.3 %

Shares of Prologis stock opened at $121.21 on Wednesday. The stock has a 50-day moving average price of $111.82 and a 200 day moving average price of $117.99. The company has a market cap of $112.26 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Company 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.