American Century Companies Inc. Sells 759,855 Shares of Prologis, Inc. (NYSE:PLD)

American Century Companies Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 20.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,964,072 shares of the real estate investment trust’s stock after selling 759,855 shares during the quarter. American Century Companies Inc.’s holdings in Prologis were worth $313,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. lifted its holdings in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the 3rd quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Prologis by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after purchasing an additional 9,147 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. 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 insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research cut 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. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group raised 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. Finally, Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Down 3.4 %

Shares of PLD opened at $108.27 on Friday. The business has a 50-day moving average of $117.54 and a 200 day moving average of $117.07. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market cap of $100.35 billion, a P/E ratio of 27.07, a price-to-earnings-growth 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.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.73%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Prologis 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.