Prologis, Inc. (NYSE:PLD) is Duff & Phelps Investment Management Co.’s 3rd Largest Position

Duff & Phelps Investment Management Co. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,902,254 shares of the real estate investment trust’s stock after selling 14,597 shares during the quarter. Prologis comprises 3.7% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 3rd largest position. Duff & Phelps Investment Management Co.’s holdings in Prologis were worth $306,768,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC increased its holdings in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% in the third 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Prologis in the 4th quarter valued at approximately $951,263,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, 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. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 0.2 %

Shares of NYSE:PLD opened at $110.95 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $117.72 and its 200-day simple moving average is $116.59. The company has a market cap of $102.84 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.