Prologis, Inc. (NYSE:PLD) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,275,856 shares of the real estate investment trust’s stock after selling 153,547 shares during the period. abrdn plc’s holdings in Prologis were worth $134,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Prologis by 1.4% in the 3rd 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 buying an additional 767,609 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prologis by 534.7% during 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 worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Swedbank AB lifted its position in Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after acquiring an additional 80,575 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $117.88 on Tuesday. The firm has a market cap of $109.17 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The business’s fifty day moving average is $111.03 and its 200-day moving average is $118.37.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis 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.