Flputnam Investment Management Co. Sells 6,771 Shares of Prologis, Inc. (NYSE:PLD)

Flputnam Investment Management Co. decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,257 shares of the real estate investment trust’s stock after selling 6,771 shares during the period. Flputnam Investment Management Co.’s holdings in Prologis were worth $3,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA boosted its position in shares of Prologis by 10.3% in the 4th quarter. Private Trust Co. NA now owns 4,186 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 391 shares in the last quarter. First American Bank raised its stake in Prologis by 1.6% in the fourth quarter. First American Bank now owns 39,103 shares of the real estate investment trust’s stock valued at $4,133,000 after buying an additional 604 shares during the last quarter. QRG Capital Management Inc. raised its stake in Prologis by 16.3% in the fourth quarter. QRG Capital Management Inc. now owns 100,697 shares of the real estate investment trust’s stock valued at $10,644,000 after buying an additional 14,132 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Prologis by 18,374.0% in the fourth quarter. Proficio Capital Partners LLC now owns 346,388 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 344,513 shares in the last quarter. Finally, Schnieders Capital Management LLC grew its stake in shares of Prologis by 2.6% during the fourth quarter. Schnieders Capital Management LLC now owns 7,378 shares of the real estate investment trust’s stock worth $780,000 after acquiring an additional 190 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLD. UBS Group lifted their target price 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. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 0.9 %

PLD stock opened at $123.88 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm’s fifty day moving average is $114.28 and its 200 day moving average is $118.05. The firm has a market cap of $114.82 billion, a PE ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.