Baillie Gifford & Co. Sells 133,216 Shares of Prologis, Inc. (NYSE:PLD)

Baillie Gifford & Co. cut its stake in Prologis, Inc. (NYSE:PLD) by 67.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 63,001 shares of the real estate investment trust’s stock after selling 133,216 shares during the period. Baillie Gifford & Co.’s holdings in Prologis were worth $6,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PLD. Dunhill Financial LLC grew its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis during the third quarter valued at approximately $48,000. Coastline Trust Co bought a new stake in Prologis during the third quarter valued at approximately $52,000. Fortitude Family Office LLC grew its position in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares during the period. Finally, Asset Planning Inc bought a new stake in Prologis during the fourth quarter valued at approximately $53,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

Prologis stock opened at $121.21 on Wednesday. The company has a market cap of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10. The firm’s fifty day moving average is $111.82 and its 200 day moving average is $117.99. The company has a quick ratio of 0.43, a current ratio of 0.23 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 $135.76.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One 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, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.