Prologis, Inc. (NYSE:PLD) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in Prologis, Inc. (NYSE:PLD) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,615,708 shares of the real estate investment trust’s stock after selling 132,500 shares during the quarter. Swiss National Bank’s holdings in Prologis were worth $276,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sigma Planning Corp boosted its holdings in Prologis by 5.0% in the third quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 372 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Prologis by 0.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,772 shares of the real estate investment trust’s stock valued at $2,244,000 after buying an additional 157 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Prologis by 13.2% during the third quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 364 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Prologis by 0.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 22,390 shares of the real estate investment trust’s stock worth $2,827,000 after buying an additional 157 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Prologis by 83.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,712 shares of the real estate investment trust’s stock worth $2,363,000 after buying an additional 8,502 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PLD. BTIG Research decreased their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Prologis Price Performance

NYSE PLD opened at $115.70 on Thursday. The company has a 50-day moving average price of $116.65 and a two-hundred day moving average price of $117.78. The stock has a market cap of $107.23 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.27.

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 given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 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.