Prologis, Inc. (NYSE:PLD) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 214,780 shares of the real estate investment trust's stock after selling 120,920 shares during the quarter. Jennison Associates LLC's holdings in Prologis were worth $28,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Legacy Inc. boosted its stake in shares of Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust's stock worth $2,217,000 after buying an additional 87 shares during the last quarter. Lockerman Financial Group Inc. boosted its position in Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust's stock valued at $587,000 after purchasing an additional 87 shares during the last quarter. Hixon Zuercher LLC boosted its position in Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust's stock valued at $1,950,000 after purchasing an additional 88 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Prologis by 11.0% in the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 90 shares in the last quarter. Finally, Holistic Financial Partners lifted its stake in shares of Prologis by 5.3% during the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust's stock worth $216,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLD. Barclays lowered their price objective on Prologis from $141.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley upped their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. BMO Capital Markets cut shares of Prologis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $145.00 to $112.00 in a report on Monday. Royal Bank of Canada boosted their price objective on Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Prologis from $143.00 to $128.00 and set an "overweight" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $134.24.

Prologis Stock Performance

Prologis stock traded up $0.17 during mid-day trading on Thursday, reaching $103.35. 3,798,273 shares of the stock traded hands, compared to its average volume of 3,476,304. The business's 50-day moving average is $125.65 and its 200-day moving average is $121.90. The stock has a market capitalization of $95.60 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. Prologis's payout ratio is 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.