Prologis, Inc. (NYSE:PLD) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,115 shares of the real estate investment trust's stock after selling 103,872 shares during the period. National Bank of Canada FI's holdings in Prologis were worth $29,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Family Legacy Inc. grew its holdings 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 valued at $2,217,000 after acquiring an additional 87 shares in the last quarter. Lockerman Financial Group Inc. grew its stake in Prologis by 2.0% in 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 in the last quarter. Hixon Zuercher LLC increased its position in Prologis by 0.6% in the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust's stock worth $1,950,000 after purchasing an additional 88 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Prologis by 11.0% during the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust's stock worth $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% in the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLD. Barclays dropped their target price on shares of Prologis from $135.00 to $123.00 and set an "overweight" rating on the stock in a report on Monday, April 29th. StockNews.com downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Wednesday, April 24th. Robert W. Baird lowered their price objective on shares of Prologis from $137.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. Finally, TheStreet raised Prologis from a "c+" rating to a "b-" rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $131.12.

Prologis Trading Up 3.0 %

Shares of Prologis stock traded up $3.13 on Tuesday, reaching $107.80. 4,087,932 shares of the company's stock were exchanged, compared to its average volume of 3,566,481. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm's 50-day moving average is $121.06 and its two-hundred day moving average is $121.90. The company has a market capitalization of $99.81 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.56%. Prologis's dividend payout ratio is currently 112.28%.

About Prologis

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.