Mutual of America Capital Management LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Mutual of America Capital Management LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,947 shares of the real estate investment trust’s stock after selling 3,065 shares during the period. Mutual of America Capital Management LLC’s holdings in Prologis were worth $11,727,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Empirical Asset Management LLC increased its stake in 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 during the period. Cardano Risk Management B.V. grew its holdings 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 during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Prologis during the 3rd quarter valued at about $1,051,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Prologis during the 3rd quarter valued at about $7,371,000. Finally, Red Cedar Investment Management LLC purchased a new stake in Prologis in the 3rd quarter valued at about $1,230,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity at Prologis

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

Prologis Price Performance

Shares of PLD opened at $123.88 on Friday. The company has a 50 day moving average of $114.28 and a two-hundred day moving average of $118.05. 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, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

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.