Prologis, Inc. (NYSE:PLD) Shares Bought by National Pension Service

National Pension Service raised its position in Prologis, Inc. (NYSE:PLD) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,671,326 shares of the real estate investment trust’s stock after purchasing an additional 44,472 shares during the quarter. National Pension Service owned about 0.18% of Prologis worth $222,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the last quarter. FMR LLC raised its stake in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after acquiring an additional 197,693 shares during the period. Northern Trust Corp raised its stake in shares of Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the period. Principal Financial Group Inc. raised its stake in shares of Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after acquiring an additional 268,667 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after acquiring an additional 175,276 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.0 %

NYSE PLD traded up $1.03 on Thursday, hitting $106.91. 1,128,824 shares of the stock were exchanged, compared to its average volume of 3,530,788. The company has a 50-day moving average price of $121.06 and a 200-day moving average price of $121.90. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The company has a market cap of $98.98 billion, a PE ratio of 31.19, a PEG ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.59%. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLD shares. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Argus reduced their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Finally, BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.