PGGM Investments Has $208.90 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

PGGM Investments lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,976,306 shares of the real estate investment trust’s stock after selling 56,574 shares during the period. Prologis comprises about 2.8% of PGGM Investments’ holdings, making the stock its 6th biggest position. PGGM Investments’ holdings in Prologis were worth $208,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Stelac Advisory Services LLC lifted its position in shares of Prologis by 21.4% during the 4th quarter. Stelac Advisory Services LLC now owns 167,957 shares of the real estate investment trust’s stock valued at $17,753,000 after buying an additional 29,562 shares during the last quarter. Tredje AP fonden lifted its holdings in Prologis by 68.6% during the fourth quarter. Tredje AP fonden now owns 391,625 shares of the real estate investment trust’s stock valued at $41,395,000 after purchasing an additional 159,356 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Prologis during the fourth quarter valued at about $11,308,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD boosted its position in Prologis by 59.3% during the fourth quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 179,911 shares of the real estate investment trust’s stock worth $19,109,000 after purchasing an additional 66,944 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in shares of Prologis by 57.4% in the fourth quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 63,211 shares of the real estate investment trust’s stock worth $6,714,000 after purchasing an additional 23,056 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’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 owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $115.70 on Thursday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.27. The company has a fifty day moving average of $116.65 and a 200-day moving average of $117.78. The company has a market capitalization of $107.23 billion, a P/E ratio of 28.92, 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 quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.49%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLD. Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.