OVERSEA CHINESE BANKING Corp Ltd Has $17.19 Million Stake in Prologis, Inc. (NYSE:PLD)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Prologis, Inc. (NYSE:PLD) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,595 shares of the real estate investment trust’s stock after purchasing an additional 2,216 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Prologis were worth $17,186,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Centricity Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter valued at about $34,000. Promus Capital LLC acquired a new position in Prologis during the 4th quarter valued at about $34,000. Finally, Asset Planning Inc bought a new stake in Prologis during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent research reports. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 1.9 %

Shares of PLD opened at $112.27 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The business has a 50-day moving average of $117.16 and a 200 day moving average of $117.28. The firm has a market cap of $104.06 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.60%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Prologis Company 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.