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

TCW Group Inc. reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AMF Tjanstepension AB boosted its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. International Assets Investment Management LLC boosted its position in Prologis by 9,354.5% in the third quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust’s stock valued at $54,920,000 after buying an additional 430,308 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Prologis by 14.5% in the third quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust’s stock valued at $3,603,000 after buying an additional 3,614 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Prologis by 19.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,985 shares of the real estate investment trust’s stock worth $13,898,000 after buying an additional 19,193 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Prologis by 13.9% during the third quarter. Arkadios Wealth Advisors now owns 15,195 shares of the real estate investment trust’s stock worth $1,919,000 after buying an additional 1,860 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of Prologis stock opened at $121.01 on Monday. The stock’s 50-day moving average is $112.56 and its 200 day moving average is $117.99. The firm has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. 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. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 96.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.