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

Payden & Rygel cut its holdings in Prologis, Inc. (NYSE:PLD) by 20.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 89,400 shares of the real estate investment trust’s stock after selling 23,200 shares during the period. Payden & Rygel’s holdings in Prologis were worth $11,608,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLD. Baird Financial Group Inc. raised its holdings in shares of Prologis by 20.6% in the 2nd quarter. Baird Financial Group Inc. now owns 122,809 shares of the real estate investment trust’s stock worth $16,637,000 after purchasing an additional 21,000 shares during the period. Nykredit A S purchased a new position in Prologis in the second quarter valued at about $40,490,000. Callan Family Office LLC acquired a new position in shares of Prologis during the second quarter worth about $3,394,000. BlackRock Inc. acquired a new position in shares of Prologis during the second quarter worth about $14,006,587,000. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of Prologis during the second quarter worth about $151,479,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Scotiabank upgraded Prologis from a “sector perform” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Tuesday, October 13th. Weiss Ratings lowered Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. BTIG Research restated a “buy” rating and issued a $170.00 price target on shares of Prologis in a report on Friday, October 16th. Royal Bank Of Canada raised shares of Prologis from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $148.00 to $160.00 in a research report on Tuesday, August 4th. Finally, Mizuho upped their target price on shares of Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.68.

Prologis Trading Up 0.1%

NYSE:PLD opened at $128.09 on Friday. Prologis, Inc. has a 12-month low of $121.40 and a 12-month high of $153.35. The firm 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. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.70. The business has a 50 day simple moving average of $132.95 and a 200 day simple moving average of $137.78.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis’s payout ratio is 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.