Prologis, Inc. (NYSE:PLD) Stake Decreased by Lasalle Investment Management Securities LLC

Lasalle Investment Management Securities LLC reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,319,847 shares of the real estate investment trust's stock after selling 99,445 shares during the period. Prologis accounts for 5.9% of Lasalle Investment Management Securities LLC's holdings, making the stock its 3rd biggest holding. Lasalle Investment Management Securities LLC owned 0.14% of Prologis worth $139,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cohen & Steers Inc. lifted its position in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after acquiring an additional 882,529 shares in the last quarter. Geode Capital Management LLC grew its holdings in Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC raised its position in Prologis by 11.7% in the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after acquiring an additional 2,500,761 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.55 during mid-day trading on Friday, hitting $102.82. The company had a trading volume of 1,279,079 shares, compared to its average volume of 4,140,761. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a market capitalization of $95.31 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 2.70 and a beta of 1.20. The stock's 50-day moving average price is $109.86 and its 200-day moving average price is $112.68.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. On average, sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.93%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

Several analysts have recently commented on PLD shares. UBS Group increased their target price on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Evercore ISI dropped their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, BNP Paribas raised Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.32.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated 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 sale, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

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.