Prologis, Inc. (NYSE:PLD) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,818,583 shares of the real estate investment trust's stock after selling 1,109,098 shares during the period. Price T Rowe Associates Inc. MD owned about 0.95% of Prologis worth $932,127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis in the fourth quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the 4th quarter worth approximately $34,000. Finally, Promus Capital LLC purchased a new position in Prologis in the fourth quarter worth approximately $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PLD shares. Morgan Stanley dropped their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Evercore ISI decreased their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Finally, Scotiabank reaffirmed a "sector underperform" rating and issued a $97.00 target price (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.32.

Prologis Price Performance

Shares of Prologis stock traded down $0.43 on Tuesday, hitting $102.89. The company's stock had a trading volume of 649,022 shares, compared to its average volume of 4,130,868. 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 fifty day moving average price of $109.11 and a 200-day moving average price of $112.36. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market capitalization of $95.38 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.99 billion. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 3.93%. Prologis's dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

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.