Tobam Sells 1,011 Shares of Prologis, Inc. (NYSE:PLD)

Tobam decreased its stake in Prologis, Inc. (NYSE:PLDFree Report) by 24.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,127 shares of the real estate investment trust’s stock after selling 1,011 shares during the period. Tobam’s holdings in Prologis were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC boosted its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its position in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. Principal Financial Group Inc. grew its position in Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after purchasing an additional 175,276 shares during the period. Finally, Norges Bank bought a new stake in Prologis during the 4th quarter valued at $1,074,648,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Robert W. Baird dropped their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays reduced their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Argus lowered their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $129.76.

Get Our Latest Research Report on Prologis

Prologis Price Performance

Prologis stock traded up $0.42 during midday trading on Monday, reaching $114.88. The company had a trading volume of 57,245 shares, compared to its average volume of 3,690,003. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm’s fifty day simple moving average is $109.07 and its 200-day simple moving average is $121.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $106.36 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.55 and a beta of 1.06.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

About Prologis

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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