TCW Group Inc. Has $6.65 Million Holdings in Prologis, Inc. (NYSE:PLD)

TCW Group Inc. lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 62,950 shares of the real estate investment trust’s stock after selling 8,691 shares during the period. TCW Group Inc.’s holdings in Prologis were worth $6,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ASB Consultores LLC boosted its position in shares of Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC lifted its stake in 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 valued at $349,000 after acquiring an additional 92 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 94 shares during the last quarter. Berkshire Bank boosted its holdings in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 95 shares during the last quarter. Finally, HM Payson & Co. grew its stake in shares of Prologis by 20.4% in the 3rd quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 100 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction 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 Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PLD. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

PLD opened at $121.01 on Monday. The firm has a 50-day moving average price of $112.56 and a 200-day moving average price of $117.99. The company has a market capitalization of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. 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 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 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 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.