Prologis, Inc. (NYSE:PLD) Position Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in Prologis, Inc. (NYSE:PLD) by 10.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,097,090 shares of the real estate investment trust’s stock after selling 352,590 shares during the quarter. Prologis accounts for about 0.5% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 25th largest holding. Russell Investments Group Ltd. owned 0.33% of Prologis worth $327,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Wedbush Securities Inc. grew its stake in shares of Prologis by 12.8% in the 4th quarter. Wedbush Securities Inc. now owns 11,433 shares of the real estate investment trust’s stock valued at $1,208,000 after buying an additional 1,293 shares in the last quarter. Perennial Investment Advisors LLC boosted its position in shares of Prologis by 8.2% in the fourth quarter. Perennial Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 200 shares during the period. Aviva PLC lifted its stake in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after buying an additional 186,187 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Prologis during the 4th quarter worth approximately $55,512,000. Finally, Prudential PLC increased its position in shares of Prologis by 21.2% during the fourth quarter. Prudential PLC now owns 23,014 shares of the real estate investment trust’s stock valued at $2,433,000 after purchasing an additional 4,019 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLD. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group upped their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Finally, Truist Financial upped their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 3.4 %

Shares of Prologis stock opened at $98.10 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $116.86 and a 200 day simple moving average of $115.64. Prologis, Inc. has a 12-month low of $95.34 and a 12-month high of $132.57. The company has a market capitalization of $90.94 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. 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.