Flputnam Investment Management Co. Sells 6,771 Shares of Prologis, Inc. (NYSE:PLD)

Flputnam Investment Management Co. decreased its position in Prologis, Inc. (NYSE:PLD) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,257 shares of the real estate investment trust’s stock after selling 6,771 shares during the quarter. Flputnam Investment Management Co.’s holdings in Prologis were worth $3,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter worth $30,000. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Prologis in the 4th quarter worth about $34,000. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter worth about $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis during the 3rd quarter valued at about $52,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

PLD opened at $123.88 on Friday. 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 stock’s fifty day moving average is $114.28 and its two-hundred day moving average is $118.05. The company has a market capitalization of $114.82 billion, a P/E ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

PLD has been the topic of several analyst reports. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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.