Elo Mutual Pension Insurance Co Reduces Position in Prologis, Inc. (NYSE:PLD)

Elo Mutual Pension Insurance Co trimmed its position in Prologis, Inc. (NYSE:PLD) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,497 shares of the real estate investment trust’s stock after selling 3,495 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prologis were worth $8,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. State Street Corp increased its holdings in shares of Prologis by 1.4% in the third 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 purchasing an additional 767,609 shares during the period. Geode Capital Management LLC raised its position in 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 worth $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prologis by 534.7% in 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 acquiring an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Prologis by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock worth $631,266,000 after purchasing an additional 32,644 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.7 %

NYSE PLD opened at $111.07 on Thursday. The business has a fifty day moving average price of $117.72 and a 200 day moving average price of $116.63. 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 company has a market cap of $102.94 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be 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 dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets downgraded shares of 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. One research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

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.