Prologis, Inc. (NYSE:PLD) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,360 shares of the real estate investment trust’s stock after purchasing an additional 179,880 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Prologis worth $82,907,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Prologis in the fourth quarter valued at $34,000. Promus Capital LLC acquired a new stake in Prologis in the fourth quarter valued at $34,000. Finally, Coastline Trust Co acquired a new stake in Prologis in the third quarter valued at $52,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $119.89 on Monday. The company has a market capitalization of $111.12 billion, a P/E ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The company has a 50-day simple moving average of $115.96 and a 200 day simple moving average of $117.93. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.37%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLD shares. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Robert W. Baird upped their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Profile

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.