Amalgamated Bank Lowers Stake in Prologis, Inc. (NYSE:PLD)

Amalgamated Bank decreased its stake in Prologis, Inc. (NYSE:PLD) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,231 shares of the real estate investment trust’s stock after selling 4,577 shares during the period. Amalgamated Bank’s holdings in Prologis were worth $18,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PLD. AMF Tjanstepension AB raised its stake in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Prologis by 9,354.5% during the 3rd quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust’s stock worth $54,920,000 after purchasing an additional 430,308 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Prologis by 14.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust’s stock worth $3,603,000 after purchasing an additional 3,614 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Prologis by 0.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,210 shares of the real estate investment trust’s stock worth $5,835,000 after purchasing an additional 327 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in shares of Prologis by 5.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 7,997 shares of the real estate investment trust’s stock worth $1,010,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

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 value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PLD. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

NYSE PLD opened at $120.71 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock’s 50-day moving average is $112.80 and its two-hundred day moving average is $117.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market cap of $111.88 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) 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.