National Bank of Canada FI Has $53.73 Million Position in Prologis, Inc. (NYSE:PLD)

National Bank of Canada FI trimmed its position in Prologis, Inc. (NYSE:PLD) by 37.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,277 shares of the real estate investment trust’s stock after selling 298,282 shares during the period. National Bank of Canada FI owned approximately 0.05% of Prologis worth $53,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Prologis in the fourth quarter valued at about $34,000. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 value of $1,305,783.78. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $111.49 on Wednesday. The company has a fifty day moving average price of $117.67 and a two-hundred day moving average price of $115.98. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a market cap of $103.33 billion, a P/E ratio of 27.87, 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 current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Prologis Company 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.