Canada Pension Plan Investment Board Sells 10,344 Shares of Prologis, Inc. (NYSE:PLD)

Canada Pension Plan Investment Board decreased its holdings in Prologis, Inc. (NYSE:PLD) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,946,945 shares of the real estate investment trust’s stock after selling 10,344 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Prologis were worth $522,892,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Square LLC raised its position in shares of Prologis by 7.8% in the 4th quarter. Capital Square LLC now owns 16,102 shares of the real estate investment trust’s stock worth $1,702,000 after acquiring an additional 1,162 shares in the last quarter. Farringdon Capital Ltd. bought a new position in Prologis in the fourth quarter worth about $604,000. MSH Capital Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter valued at about $636,000. Marshall Wace LLP boosted its holdings in shares of Prologis by 9.5% in the 4th quarter. Marshall Wace LLP now owns 738,572 shares of the real estate investment trust’s stock valued at $78,067,000 after buying an additional 63,777 shares in the last quarter. Finally, Stenger Family Office LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $2,365,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Scotiabank reaffirmed a “sector underperform” rating and issued a $97.00 price objective (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Activity at Prologis

In other 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 transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Up 2.0 %

Shares of PLD opened at $100.46 on Thursday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a market capitalization of $93.12 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.70 and a beta of 1.20. The stock’s 50-day moving average price is $112.19 and its 200-day moving average price is $113.59. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 4.02%. Prologis’s dividend payout ratio is 101.00%.

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.