Voya Investment Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Voya Investment Management LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 381,064 shares of the real estate investment trust's stock after selling 26,406 shares during the period. Voya Investment Management LLC's holdings in Prologis were worth $40,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Pine Valley Investments Ltd Liability Co increased its position in shares of Prologis by 14.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust's stock valued at $2,294,000 after buying an additional 2,245 shares in the last quarter. World Investment Advisors LLC bought a new position in Prologis during the 3rd quarter worth about $989,000. Wilmington Savings Fund Society FSB bought a new position in Prologis during the 3rd quarter worth about $1,348,000. Destination Wealth Management increased its holdings in Prologis by 121.5% during the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust's stock worth $569,000 after purchasing an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Prologis by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust's stock worth $25,288,000 after purchasing an additional 22,516 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent research reports. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, BMO Capital Markets cut their target price on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $122.05.

Prologis Price Performance

Shares of PLD stock traded up $0.77 during trading hours on Thursday, hitting $102.97. 1,781,411 shares of the company's stock were exchanged, compared to its average volume of 4,142,349. The business's 50 day simple moving average is $108.38 and its 200-day simple moving average is $112.22. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $95.45 billion, a PE ratio of 25.75, a PEG ratio of 2.70 and a beta of 1.20.

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

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.92%. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company's stock.

Prologis 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.