Prologis, Inc. (NYSE:PLD) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lowered its stake in Prologis, Inc. (NYSE:PLD) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,690 shares of the real estate investment trust’s stock after selling 430 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Prologis were worth $3,455,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prologis by 534.7% during 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC grew its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% during the 3rd 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 last quarter. Cardano Risk Management B.V. purchased a new stake in Prologis during the 3rd quarter worth approximately $109,579,000. Finally, Jennison Associates LLC raised its position in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after purchasing an additional 829,504 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 0.5 %

Shares of NYSE:PLD opened at $118.38 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market cap of $109.64 billion, a PE ratio of 29.59, a P/E/G ratio of 2.66 and a beta of 1.10. The company’s 50-day moving average price is $111.02 and its 200 day moving average price is $118.33.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.24%. Prologis’s dividend payout ratio is presently 96.00%.

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.