Prologis, Inc. $PLD Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 276,234 shares of the real estate investment trust’s stock after selling 39,521 shares during the quarter. Voya Investment Management LLC’s holdings in Prologis were worth $31,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in shares of Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis in the first quarter valued at about $34,000. Saudi Central Bank acquired a new stake in Prologis during the first quarter worth about $41,000. Barrett & Company Inc. acquired a new stake in Prologis during the second quarter worth about $44,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Prologis during the second quarter worth about $44,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Truist Financial reiterated a “buy” rating and issued a $131.00 price objective (up from $120.00) on shares of Prologis in a report on Monday, October 20th. Evercore ISI raised their target price on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. Finally, Weiss Ratings upgraded Prologis from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.88.

Prologis Stock Down 0.4%

Shares of NYSE PLD opened at $127.20 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $125.69 and its two-hundred day moving average is $115.37. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70. The firm has a market cap of $118.15 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 3.91 and a beta of 1.40.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. Research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. Prologis’s dividend payout ratio is 117.78%.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,621 shares of company stock worth $198,655 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.