Atria Investments Inc Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Atria Investments Inc reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,170 shares of the real estate investment trust’s stock after selling 24,532 shares during the period. Atria Investments Inc’s holdings in Prologis were worth $8,474,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. 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 buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after buying an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Prologis by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $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 lifted its position in shares of Prologis by 534.7% during the 3rd 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 valued at $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Prologis by 0.5% during 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 in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

NYSE PLD opened at $124.08 on Thursday. The company has a market cap of $115.00 billion, a P/E ratio of 31.02, 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 quick ratio of 0.43 and a current ratio of 0.75. The business’s 50 day moving average price is $115.40 and its 200-day moving average price is $118.03. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Increases Dividend

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

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.