Generali Asset Management SPA SGR Makes New $6.95 Million Investment in Prologis, Inc. (NYSE:PLD)

Generali Asset Management SPA SGR bought a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 65,766 shares of the real estate investment trust’s stock, valued at approximately $6,951,000.

A number of other large investors also recently modified their holdings of the stock. Horizon Investments LLC lifted its holdings in shares of Prologis by 0.9% in the fourth quarter. Horizon Investments LLC now owns 12,679 shares of the real estate investment trust’s stock valued at $1,340,000 after purchasing an additional 116 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Prologis by 2.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 274,322 shares of the real estate investment trust’s stock valued at $29,025,000 after purchasing an additional 7,187 shares in the last quarter. Provident Co of the Employees of the Hebrew University LTD lifted its holdings in shares of Prologis by 2.2% in the fourth quarter. Provident Co of the Employees of the Hebrew University LTD now owns 12,332 shares of the real estate investment trust’s stock valued at $1,302,000 after purchasing an additional 262 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Prologis by 11.9% in the fourth quarter. Cibc World Markets Corp now owns 411,628 shares of the real estate investment trust’s stock valued at $43,509,000 after purchasing an additional 43,928 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in shares of Prologis by 5.4% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 11,829 shares of the real estate investment trust’s stock valued at $1,250,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wolfe Research dropped their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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 on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Price Performance

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

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.60%. Prologis’s payout ratio is 101.00%.

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.