Prologis, Inc. (NYSE:PLD) Shares Acquired by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,650 shares of the real estate investment trust’s stock after buying an additional 2,456 shares during the quarter. Prologis makes up approximately 1.2% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 27th largest position. Strengthening Families & Communities LLC’s holdings in Prologis were worth $2,077,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Prologis by 145.0% during the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares during the period. AMF Tjanstepension AB boosted its stake in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the period. Cardano Risk Management B.V. acquired a new stake in shares of Prologis during the third quarter worth about $109,579,000. Finally, Jennison Associates LLC boosted its stake in shares of Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after buying an additional 829,504 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PLD. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Up 1.7 %

PLD stock opened at $119.40 on Tuesday. The company’s 50 day simple moving average is $111.11 and its 200-day simple moving average is $118.15. The firm has a market capitalization of $110.58 billion, a PE ratio of 29.85, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.22%. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

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.