Prologis, Inc. (NYSE:PLD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,120,852 shares of the real estate investment trust’s stock after selling 84,331 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Prologis were worth $435,574,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Empirical Asset Management LLC lifted its holdings in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the period. Sunflower Bank N.A. purchased a new stake in Prologis during the third quarter worth about $249,000. Cardano Risk Management B.V. grew its position in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Prologis during the 3rd quarter valued at approximately $1,051,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PLD shares. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird lifted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, 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 research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $118.48 on Friday. The company has a market cap of $109.73 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.66 and a beta of 1.10. The firm’s 50 day moving average is $111.09 and its two-hundred day moving average is $118.30. 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.

Prologis Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

About Prologis

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.