Commonwealth Equity Services LLC Sells 5,726 Shares of Prologis, Inc. (NYSE:PLD)

Commonwealth Equity Services LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,185 shares of the real estate investment trust’s stock after selling 5,726 shares during the period. Commonwealth Equity Services LLC’s holdings in Prologis were worth $9,744,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Prologis by 1.4% during the 3rd 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 acquiring an additional 767,609 shares during the period. Geode Capital Management LLC lifted its position in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock worth $1,099,569,000 after buying an additional 173,531 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prologis by 534.7% during the third 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 buying an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after buying an additional 32,644 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Prologis stock opened at $113.03 on Thursday. The stock’s 50 day moving average is $117.31 and its 200 day moving average is $117.25. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The firm has a market cap of $104.77 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Insider Transactions at Prologis

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

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.