Prologis, Inc. (NYSE:PLD) Position Lessened by AGF Management Ltd.

AGF Management Ltd. lowered its position in Prologis, Inc. (NYSE:PLD) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,222 shares of the real estate investment trust’s stock after selling 13,235 shares during the quarter. AGF Management Ltd.’s holdings in Prologis were worth $4,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC raised its position in Prologis by 239.5% during the third 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 in the last quarter. Whipplewood Advisors LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $34,000. Promus Capital LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $34,000. Finally, Coastline Trust Co bought a new stake in Prologis in the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’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 transaction 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. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $115.70 on Thursday. The firm’s 50-day moving average is $116.65 and its 200-day moving average is $117.78. The company has a market cap of $107.23 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.27.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.49%. Prologis’s dividend payout ratio is 101.00%.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.