Richard W. Paul & Associates LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Richard W. Paul & Associates LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,130 shares of the real estate investment trust’s stock after buying an additional 616 shares during the period. Richard W. Paul & Associates LLC’s holdings in Prologis were worth $437,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prologis by 534.7% during the 3rd 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Janus Henderson Group PLC increased its stake in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB increased its stake in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in Prologis during the third quarter worth $109,579,000. Finally, Jennison Associates LLC boosted its position in 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 purchasing an additional 829,504 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 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 report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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 company’s stock in a transaction dated 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 directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $123.88 on Friday. The firm has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a 50 day moving average price of $114.28 and a 200 day moving average price of $118.08. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) 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.