Prologis, Inc. (NYSE:PLD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,120,852 shares of the real estate investment trust’s stock after selling 84,331 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.44% of Prologis worth $435,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Dunhill Financial LLC boosted its stake 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 buying an additional 182 shares during the period. Hara Capital LLC acquired a new stake in Prologis in the 3rd quarter valued at approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the third quarter worth $52,000. Fortitude Family Office LLC boosted its position in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management grew its stake in shares of Prologis by 42.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 185 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $118.48 on Friday. 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. The stock’s 50 day moving average price is $111.09 and its 200 day moving average price is $118.30. The company has a market capitalization of $109.73 billion, a PE ratio of 29.62, a P/E/G ratio of 2.66 and a beta of 1.10.

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 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PLD shares. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Truist Financial increased 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. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

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.