Prologis, Inc. (NYSE:PLD) Stock Position Raised by Umpqua Bank

Umpqua Bank lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,579 shares of the real estate investment trust’s stock after acquiring an additional 564 shares during the quarter. Umpqua Bank’s holdings in Prologis were worth $603,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empirical Asset Management LLC boosted its position in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. boosted its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Prologis in the third quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Prologis by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after buying an additional 9,147 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

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 value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent analyst reports. Scotiabank decreased their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. 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 stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of Prologis stock opened at $108.27 on Friday. The firm has a fifty day moving average of $117.54 and a two-hundred day moving average of $117.07. The stock has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. 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 dividend yield of 3.73%. Prologis’s payout ratio is presently 101.00%.

Prologis Company 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.