Stanley Laman Group Ltd. Reduces Position in Prologis, Inc. (NYSE:PLD)

Stanley Laman Group Ltd. cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,557 shares of the real estate investment trust’s stock after selling 1,491 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Prologis were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Prologis by 534.7% in 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 during the period. Janus Henderson Group PLC lifted its holdings in Prologis by 145.0% in the third 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 acquiring an additional 2,138,693 shares during the period. AMF Tjanstepension AB lifted its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. Cardano Risk Management B.V. bought a new position in Prologis in the third quarter valued at about $109,579,000. Finally, Jennison Associates LLC lifted its holdings in Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after acquiring an additional 829,504 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PLD shares. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

NYSE PLD opened at $119.81 on Thursday. The stock has a market capitalization of $110.96 billion, a PE ratio of 29.95, a P/E/G ratio of 2.64 and a beta of 1.10. The business has a 50 day simple moving average of $111.29 and a two-hundred day simple moving average of $118.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Announces Dividend

The company also recently declared 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. This represents a $3.84 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

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.