Amundi Sells 409,415 Shares of Prologis, Inc. (NYSE:PLD)

Amundi decreased its holdings in Prologis, Inc. (NYSE:PLD) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,102,886 shares of the real estate investment trust’s stock after selling 409,415 shares during the quarter. Amundi’s holdings in Prologis were worth $432,854,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter worth about $30,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prologis in the fourth quarter worth about $34,000. Promus Capital LLC bought a new position in Prologis during the fourth quarter valued at approximately $34,000. Finally, Coastline Trust Co bought a new position in Prologis during the third quarter valued at approximately $52,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLD shares. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the 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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.3 %

Shares of NYSE PLD opened at $119.89 on Friday. 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 business’s 50 day moving average price is $115.96 and its 200-day moving average price is $117.97. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a market cap of $111.12 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 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.