Sterling Capital Management LLC Sells 16,581 Shares of Prologis, Inc. (NYSE:PLD)

Sterling Capital Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 32.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,502 shares of the real estate investment trust’s stock after selling 16,581 shares during the quarter. Sterling Capital Management LLC’s holdings in Prologis were worth $3,647,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLD. Phoenix Financial Ltd. lifted its position in shares of Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC raised its stake in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC lifted its position in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares during the last quarter. Berkshire Bank boosted its stake in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 95 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank reiterated a “sector underperform” rating and issued a $97.00 price target (down from $133.00) on shares of Prologis in a research note on Monday, April 7th. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis Stock Up 1.3 %

Shares of PLD opened at $96.14 on Friday. The company has a market capitalization of $89.12 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock’s 50-day moving average price is $113.34 and its 200-day moving average price is $114.06. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

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.