Prologis, Inc. (NYSE:PLD) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,497 shares of the real estate investment trust’s stock after selling 3,495 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prologis were worth $8,931,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC raised its position in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 1.7 %

Shares of NYSE:PLD opened at $111.07 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The stock has a market cap of $102.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The firm’s 50 day moving average price is $117.72 and its 200 day moving average price is $116.63.

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 given a dividend of $1.01 per share. This is a boost 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 of this dividend is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird increased their price objective 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. UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.