Rhumbline Advisers Sells 35,922 Shares of Prologis, Inc. (NYSE:PLD)

Rhumbline Advisers cut its position in Prologis, Inc. (NYSE:PLD) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,810,037 shares of the real estate investment trust’s stock after selling 35,922 shares during the quarter. Rhumbline Advisers’ holdings in Prologis were worth $191,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the period. Exchange Traded Concepts LLC increased its stake in Prologis by 29.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock valued at $787,000 after purchasing an additional 1,424 shares in the last quarter. CX Institutional raised its holdings in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 88 shares during the last quarter. Creative Planning lifted its stake in shares of Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock valued at $12,647,000 after buying an additional 15,510 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Prologis by 20.1% during the third quarter. NBC Securities Inc. now owns 1,848 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 309 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. 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. Finally, Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned 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 currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity at Prologis

In other Prologis 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 completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $120.84 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $111.53 and a two-hundred day simple moving average of $118.17. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a market cap of $111.92 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

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.