Prologis, Inc. $PLD Shares Sold by Payden & Rygel

Payden & Rygel lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 20.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,400 shares of the real estate investment trust’s stock after selling 23,200 shares during the quarter. Payden & Rygel’s holdings in Prologis were worth $11,608,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Brian Low Financial Group LLC grew its holdings in Prologis by 4.4% during the third quarter. Brian Low Financial Group LLC now owns 19,165 shares of the real estate investment trust’s stock worth $2,488,000 after acquiring an additional 804 shares during the period. Soltis Investment Advisors LLC raised its position in Prologis by 5.0% in the third quarter. Soltis Investment Advisors LLC now owns 3,997 shares of the real estate investment trust’s stock worth $519,000 after acquiring an additional 191 shares in the last quarter. BOKF NA raised its position in Prologis by 13.9% in the third quarter. BOKF NA now owns 1,183 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 144 shares in the last quarter. North Dakota State Investment Board lifted its holdings in Prologis by 5.2% in the third quarter. North Dakota State Investment Board now owns 29,005 shares of the real estate investment trust’s stock valued at $3,766,000 after acquiring an additional 1,423 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in Prologis in the third quarter valued at $41,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Prologis from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Freedom Broker raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Raymond James Financial upgraded shares of Prologis from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a research report on Wednesday, October 21st. BTIG Research reaffirmed a “buy” rating and issued a $170.00 target price on shares of Prologis in a report on Friday, October 16th. Finally, Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $154.68.

Prologis Stock Up 0.1%

Shares of NYSE:PLD opened at $128.09 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52-week low of $121.40 and a 52-week high of $153.35. The stock’s fifty day simple moving average is $132.95 and its 200-day simple moving average is $137.78. The company has a market capitalization of $121.75 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.46 and a beta of 1.31.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 annualized dividend and a yield of 3.3%. Prologis’s payout ratio is presently 94.48%.

Prologis Company Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.