OFI Invest Asset Management Takes Position in Prologis, Inc. (NYSE:PLD)

OFI Invest Asset Management bought a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 324,237 shares of the real estate investment trust’s stock, valued at approximately $33,097,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp lifted its position in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its stake in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock worth $1,099,569,000 after purchasing an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Prologis by 534.7% in 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 valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Prologis by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other Prologis 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 value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Price Performance

Shares of PLD stock opened at $119.89 on Friday. The business has a fifty day simple moving average of $115.96 and a 200 day simple moving average of $117.97. The company has a market cap of $111.12 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend 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.