Prologis, Inc. (NYSE:PLD) Shares Bought by Syntax Research Inc.

Syntax Research Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,064 shares of the real estate investment trust’s stock after acquiring an additional 2,462 shares during the period. Prologis makes up approximately 2.6% of Syntax Research Inc.’s holdings, making the stock its 11th biggest holding. Syntax Research Inc.’s holdings in Prologis were worth $3,601,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLD. Empirical Asset Management LLC lifted its stake in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after buying an additional 9,147 shares during the period. 93.50% of the stock is currently 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 transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 3.4 %

PLD opened at $108.27 on Monday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $117.54 and a 200 day moving average price of $116.92. The company has a market cap of $100.35 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. UBS Group lifted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.