Prologis, Inc. (NYSE:PLD) Shares Bought by National Pension Service

National Pension Service increased its stake in Prologis, Inc. (NYSE:PLD) by 0.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,022,706 shares of the real estate investment trust’s stock after acquiring an additional 472 shares during the quarter. National Pension Service owned approximately 0.22% of Prologis worth $213,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in Prologis by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock worth $631,266,000 after buying an additional 32,644 shares during the period. Pine Valley Investments Ltd Liability Co increased its position in shares of Prologis by 12.6% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,443 shares of the real estate investment trust’s stock worth $2,161,000 after acquiring an additional 2,280 shares in the last quarter. Pring Turner Capital Group Inc. raised its holdings in shares of Prologis by 13.4% during the fourth quarter. Pring Turner Capital Group Inc. now owns 40,667 shares of the real estate investment trust’s stock valued at $4,299,000 after acquiring an additional 4,791 shares during the period. BankPlus Trust Department purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $1,088,000. Finally, Impax Asset Management Group plc boosted its stake in Prologis by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 322,764 shares of the real estate investment trust’s stock worth $34,116,000 after purchasing an additional 42,091 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Wolfe Research decreased their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $122.69 on Wednesday. The firm has a market capitalization of $113.72 billion, a PE ratio of 30.67, a PEG ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm’s fifty day simple moving average is $113.07 and its 200 day simple moving average is $117.99.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.29%. Prologis’s dividend payout ratio is presently 101.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.