Prologis, Inc. (NYSE:PLD) Shares Sold by Uniplan Investment Counsel Inc.

Uniplan Investment Counsel Inc. cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,169 shares of the real estate investment trust's stock after selling 4,709 shares during the quarter. Prologis comprises about 2.1% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 13th biggest position. Uniplan Investment Counsel Inc.'s holdings in Prologis were worth $22,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at $951,263,000. Capital Research Global Investors grew 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 worth $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Prologis during the 4th quarter worth $254,876,000. FMR LLC grew its stake in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Prologis by 83.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Evercore ISI dropped 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. Scotiabank restated a "sector underperform" rating and set a $97.00 target price (down from $133.00) on shares of Prologis in a research note on Monday, April 7th. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. One 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average target price of $123.32.

Prologis Stock Performance

Shares of PLD stock traded down $1.05 on Friday, hitting $102.31. The company had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,572. The firm has a market cap of $94.84 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a 50-day moving average price of $109.48 and a 200-day moving average price of $112.48. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

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

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.95%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is currently 101.00%.

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.