Prologis, Inc. (NYSE:PLD) Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 51.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 413,237 shares of the real estate investment trust’s stock after selling 444,471 shares during the quarter. KBC Group NV’s holdings in Prologis were worth $43,679,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Prologis by 18.8% in the 4th quarter. Blue Trust Inc. now owns 24,573 shares of the real estate investment trust’s stock valued at $2,597,000 after purchasing an additional 3,887 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Prologis by 6.5% in the fourth quarter. PFG Investments LLC now owns 21,554 shares of the real estate investment trust’s stock worth $2,278,000 after buying an additional 1,317 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Prologis by 13.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,998 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 584 shares during the last quarter. Stablepoint Partners LLC grew its stake in Prologis by 4.7% during the 4th quarter. Stablepoint Partners LLC now owns 17,309 shares of the real estate investment trust’s stock valued at $1,830,000 after acquiring an additional 775 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its holdings in Prologis by 32.2% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,506 shares of the real estate investment trust’s stock valued at $265,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent research reports. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 2.0 %

Shares of NYSE:PLD opened at $121.29 on Tuesday. The firm has a market capitalization of $112.33 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm’s 50-day moving average is $110.49 and its two-hundred day moving average is $118.41.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 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.