DnB Asset Management AS Boosts Holdings in Prologis, Inc. (NYSE:PLD)

DnB Asset Management AS lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,292 shares of the real estate investment trust’s stock after acquiring an additional 10,858 shares during the period. DnB Asset Management AS’s holdings in Prologis were worth $31,741,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLD. Principle Wealth Partners LLC increased its stake in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its holdings in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 93 shares during the period. Berkshire Bank raised its holdings in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares during the period. J.Safra Asset Management Corp lifted its position in Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 103 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $110.37 on Friday. The company has a market cap of $102.29 billion, a PE ratio of 27.59, a P/E/G 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 firm has a 50-day simple moving average of $117.74 and a 200 day simple moving average of $116.45. 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 Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.66%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets downgraded 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. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Scotiabank reduced their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, UBS Group raised 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. 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.