Swiss National Bank Sells 81,400 Shares of Prologis, Inc. (NYSE:PLD)

Swiss National Bank lessened its position in Prologis, Inc. (NYSE:PLD) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,888,908 shares of the real estate investment trust’s stock after selling 81,400 shares during the period. Swiss National Bank’s holdings in Prologis were worth $385,091,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. purchased a new stake in shares of Prologis during the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC raised its position in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis in the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC bought a new stake in shares of Prologis in the 4th quarter worth approximately $39,000. Finally, Valley National Advisers Inc. grew its position in shares of Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Mizuho reaffirmed a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley increased their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Robert W. Baird cut their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Stock Up 1.1 %

PLD stock traded up $1.09 during trading on Thursday, hitting $102.97. 2,013,924 shares of the stock traded hands, compared to its average volume of 3,505,649. 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 stock has a market cap of $95.33 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s 50 day moving average is $123.24 and its two-hundred day moving average is $121.78.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.73%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is 112.28%.

About Prologis

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.