Prologis, Inc. (NYSE:PLD) Shares Bought by Sunpointe LLC

Sunpointe LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,429 shares of the real estate investment trust’s stock after buying an additional 235 shares during the quarter. Sunpointe LLC’s holdings in Prologis were worth $257,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PLD. State Street Corp lifted its holdings in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. grew its position in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after purchasing an additional 80,575 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.4 %

Prologis stock opened at $121.76 on Thursday. The stock has a market cap of $112.77 billion, a PE ratio of 30.44, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $112.18 and a 200 day moving average price of $117.99. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several analyst reports. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Royal Bank of Canada lifted 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. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.