Prologis, Inc. (NYSE:PLD) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,790 shares of the real estate investment trust’s stock after selling 10,690 shares during the period. Amalgamated Bank’s holdings in Prologis were worth $29,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Columbia Trust Co 01012016 increased its holdings in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after acquiring an additional 42,073 shares during the period. Grassi Investment Management grew its holdings in shares of Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in shares of Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 11,582 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PLD shares. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Robert W. Baird cut their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. Argus lowered their price target on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Morgan Stanley lifted their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $132.35.

Prologis Price Performance

PLD stock traded up $2.65 during mid-day trading on Thursday, hitting $104.53. The stock had a trading volume of 5,789,597 shares, compared to its average volume of 3,552,220. The firm has a fifty day simple moving average of $123.24 and a 200 day simple moving average of $121.78. The firm has a market capitalization of $96.78 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is currently 112.28%.

Prologis Company Profile

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.