SAN FRANCISCO—Ghazal Joseph, the Chief Investment Officer of Prologis , Inc. (NYSE:PLD), a prominent player in the Industrial REITs industry with a market capitalization of $112 billion, recently sold a significant portion of his holdings in the company. According to InvestingPro data, the company maintains a GOOD financial health score and currently appears fairly valued based on its Fair Value assessment. According to a recent SEC filing, Joseph sold 10,997 shares of the real estate investment trust on February 5, 2025. The shares were sold at a weighted average price of $118.74, with transaction prices ranging from $118.71 to $118.86. This transaction brought in a total of approximately $1.3 million. The company has maintained dividend payments for 14 consecutive years, currently offering a 3.2% yield. Discover more insights about Prologis and access detailed analysis with InvestingPro’s comprehensive research report.
Following the sale, Joseph retains ownership of 7,977 shares in Prologis. The sale was executed directly by Joseph, as noted in the filing. The transaction represents a small fraction of Prologis’s daily trading volume, which averages 4.2 million shares over the past three months.
In other recent news, Prologis, a global real estate investment trust, issued C$750 million in aggregate principal amount of 4.200% notes due in 2033. The net proceeds, approximately C$742.6 million, are intended for general corporate purposes, including potential debt repayment. The notes will be senior unsecured obligations of Prologis, L.P., redeemable before November 15, 2032, at a price determined by a specific formula.
In the world of analysts, KeyBanc Capital Markets maintained its Sector Weight rating on ProLogis shares, noting that the company’s Core Funds from Operations exceeded expectations. However, Raymond (NSE:RYMD) James downgraded ProLogis shares from Outperform to Market Perform, citing recent rise in investor expectations. UBS, on the other hand, increased the price target for ProLogis shares to $137, maintaining a Buy rating.
These recent developments reflect the ongoing activities of Prologis and its financial trajectory. The company’s decisions to issue notes and use the proceeds for corporate purposes align with its broader strategy to manage its capital and liabilities. Meanwhile, the differing analyst ratings provide diverse perspectives on the company’s performance and future prospects.
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