Ameriprise Financial Inc. Sells 532,541 Shares of Prologis, Inc. (NYSE:PLD)

Ameriprise Financial Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,095,291 shares of the real estate investment trust's stock after selling 532,541 shares during the period. Ameriprise Financial Inc. owned about 0.87% of Prologis worth $852,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PLD. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the fourth quarter worth $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter worth approximately $30,000. Promus Capital LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $34,000. Institutional investors own 93.50% of the company's stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 of the company's stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Prologis Stock Performance

Shares of PLD stock traded down $0.92 on Tuesday, reaching $104.41. The stock had a trading volume of 6,504,590 shares, compared to its average volume of 4,146,628. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $96.88 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.70 and a beta of 1.25. The firm's 50-day moving average is $106.98 and its two-hundred day moving average is $111.64.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.87%. Prologis's dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Scotiabank reissued a "sector underperform" rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. Barclays lowered their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Raymond James restated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $121.89.

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.