Jennison Associates LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Jennison Associates LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 36.0% during the fourth quarter, HoldingsChannel reports. The firm owned 214,780 shares of the real estate investment trust’s stock after selling 120,920 shares during the period. Jennison Associates LLC’s holdings in Prologis were worth $28,630,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLD. Strategic Blueprint LLC grew its position in shares of Prologis by 7.4% in the 3rd quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 140 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Prologis by 3.8% in the 3rd quarter. Proficio Capital Partners LLC now owns 3,165 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 115 shares during the last quarter. UMB Bank n.a. grew its position in Prologis by 3.1% during the 3rd quarter. UMB Bank n.a. now owns 109,672 shares of the real estate investment trust’s stock worth $12,306,000 after purchasing an additional 3,280 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Prologis by 16.1% during the 3rd quarter. Opal Wealth Advisors LLC now owns 1,937 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 268 shares during the last quarter. Finally, Czech National Bank grew its position in Prologis by 47.7% during the 3rd quarter. Czech National Bank now owns 161,473 shares of the real estate investment trust’s stock worth $18,119,000 after purchasing an additional 52,154 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. UBS Group dropped their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Argus dropped their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Stock Down 1.6 %

Shares of NYSE:PLD opened at $103.18 on Thursday. The firm’s 50 day moving average price is $126.24 and its 200 day moving average price is $122.03. The stock has a market cap of $95.45 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.72%. Prologis’s dividend payout ratio (DPR) is 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.