Cbre Investment Management Listed Real Assets LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,287,476 shares of the real estate investment trust's stock after selling 180,154 shares during the quarter. Prologis makes up approximately 2.4% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 10th biggest position. Cbre Investment Management Listed Real Assets LLC owned 0.14% of Prologis worth $136,086,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prologis by 534.7% in the 3rd 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 worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC increased its position in Prologis by 145.0% in 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 buying an additional 2,138,693 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in Prologis in the 3rd quarter valued at about $109,579,000. Jennison Associates LLC increased its position in 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 buying an additional 829,504 shares in the last quarter. Finally, State Street Corp increased its position in Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after buying an additional 767,609 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
PLD has been the subject of a number of research analyst reports. Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus price target of $128.78.
Check Out Our Latest Stock Report on Prologis
In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, 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 SEC, which is available at this link. Company insiders own 0.50% of the company's stock.
Prologis stock opened at $121.97 on Wednesday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business's 50 day simple moving average is $115.01 and its 200 day simple moving average is $117.99. The company has a market cap of $113.05 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.70 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.31%. Prologis's dividend payout ratio is presently 101.00%.
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.
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