Mutual of America Capital Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Mutual of America Capital Management LLC cut its position in Prologis, Inc. (NYSE:PLD) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 110,947 shares of the real estate investment trust’s stock after selling 3,065 shares during the period. Mutual of America Capital Management LLC’s holdings in Prologis were worth $11,727,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the 4th quarter valued at $34,000. Hara Capital LLC purchased a new position in shares of Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co acquired a new position in Prologis during the third quarter valued at $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.9 %

Shares of Prologis stock opened at $123.88 on Friday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The firm’s 50-day moving average price is $114.28 and its 200 day moving average price is $118.05. 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 firm has a market capitalization 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change 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 payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLD shares. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. 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 note on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus 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 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is 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.