Prologis, Inc. (NYSE:PLD) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,045 shares of the real estate investment trust’s stock after selling 1,448 shares during the period. M&T Bank Corp’s holdings in Prologis were worth $16,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Columbia Trust Co 01012016 increased its holdings in shares of Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares during the period. Cyndeo Wealth Partners LLC raised its position in shares of Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 11,882 shares in the last quarter. DNB Asset Management AS lifted its stake 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 boosted its holdings in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after acquiring an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its holdings in shares of Prologis by 255.0% in 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 acquiring an additional 11,582 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLD. Mizuho restated a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Barclays cut their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada boosted their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James raised their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Stock Up 1.3 %

PLD traded up $1.36 on Friday, reaching $105.89. 3,517,673 shares of the company traded hands, compared to its average volume of 4,890,799. The company has a market cap of $98.04 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. 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’s 50 day moving average price is $122.11 and its 200-day moving average price is $121.63. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. Prologis’s dividend payout ratio 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.