Prologis, Inc. (NYSE:PLD) Shares Sold by DSM Capital Partners LLC

DSM Capital Partners LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 8,400 shares of the real estate investment trust’s stock after selling 160 shares during the quarter. DSM Capital Partners LLC’s holdings in Prologis were worth $1,120,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Prologis by 5.2% during the fourth quarter. Hsbc Holdings PLC now owns 2,873,369 shares of the real estate investment trust’s stock worth $383,501,000 after purchasing an additional 141,005 shares in the last quarter. Intech Investment Management LLC lifted its stake in Prologis by 68.6% during the fourth quarter. Intech Investment Management LLC now owns 11,041 shares of the real estate investment trust’s stock worth $1,472,000 after purchasing an additional 4,491 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Prologis by 2.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,281,954 shares of the real estate investment trust’s stock worth $170,884,000 after acquiring an additional 27,798 shares during the period. Skopos Labs Inc. purchased a new stake in shares of Prologis during the fourth quarter worth $472,000. Finally, Team Hewins LLC purchased a new stake in shares of Prologis during the fourth quarter worth $983,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLD. UBS Group cut their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank dropped their target price on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.35.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.89 during trading hours on Friday, hitting $104.75. 3,107,976 shares of the stock were exchanged, compared to its average volume of 3,918,833. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The company’s 50 day moving average is $114.69 and its 200 day moving average is $122.39. The firm has a market capitalization of $96.98 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.33 and a beta of 1.05. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.