Resona Asset Management Co. Ltd. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 526,813 shares of the real estate investment trust’s stock, valued at approximately $55,512,000. Resona Asset Management Co. Ltd. owned 0.06% of Prologis as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC grew its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter worth about $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 3.4 %

Shares of PLD opened at $98.10 on Friday. The stock has a market capitalization of $90.94 billion, a P/E ratio of 24.53, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a twelve month low of $95.34 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 firm has a fifty day simple moving average of $116.86 and a two-hundred day simple moving average of $115.64.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada increased their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.