Amundi Sells 409,415 Shares of Prologis, Inc. (NYSE:PLD)

Amundi trimmed its stake in Prologis, Inc. (NYSE:PLD) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,102,886 shares of the real estate investment trust’s stock after selling 409,415 shares during the quarter. Amundi owned 0.44% of Prologis worth $432,854,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its holdings in Prologis by 19.3% in the fourth quarter. Larson Financial Group LLC now owns 19,021 shares of the real estate investment trust’s stock worth $2,011,000 after acquiring an additional 3,079 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in Prologis by 38.2% in the fourth quarter. AMF Tjanstepension AB now owns 2,592,864 shares of the real estate investment trust’s stock worth $274,211,000 after acquiring an additional 717,252 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Prologis in the fourth quarter worth $2,925,000. Banco Santander S.A. boosted its holdings in Prologis by 88.0% in the fourth quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust’s stock worth $495,000 after acquiring an additional 2,192 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Prologis in the fourth quarter worth $429,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD opened at $119.89 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 business has a 50-day simple moving average of $115.96 and a two-hundred day simple moving average of $117.97. The stock has a market cap of $111.12 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.37%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PLD shares. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’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 completion of the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.