KCM Investment Advisors LLC Has $2.30 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

KCM Investment Advisors LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,789 shares of the real estate investment trust’s stock after selling 2,053 shares during the quarter. KCM Investment Advisors LLC’s holdings in Prologis were worth $2,303,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. boosted its position in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Prologis during the third quarter worth $1,051,000. Finally, Allstate Corp raised its position in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after buying an additional 39,321 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 3.4 %

PLD stock opened at $98.10 on Friday. The stock has a fifty day moving average of $116.86 and a 200-day moving average of $115.54. Prologis, Inc. has a fifty-two week low of $95.34 and a fifty-two week high of $132.57. The company has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the company 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 given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

About Prologis

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.