The Manufacturers Life Insurance Company Acquires 28,340 Shares of Prologis, Inc. (NYSE:PLD)

The Manufacturers Life Insurance Company grew its holdings in Prologis, Inc. (NYSE:PLDFree Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 855,903 shares of the real estate investment trust’s stock after purchasing an additional 28,340 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Prologis worth $114,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. Thompson Investment Management Inc. bought a new stake in shares of Prologis in the fourth quarter worth $28,000. JFS Wealth Advisors LLC grew its holdings in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Clear Investment Research LLC grew its holdings in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the period. Salem Investment Counselors Inc. bought a new stake in Prologis during the fourth quarter valued at about $37,000. Finally, Private Wealth Management Group LLC bought a new stake in Prologis during the fourth quarter valued at about $38,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLD shares. The Goldman Sachs Group cut their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Robert W. Baird lowered their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Friday. Finally, BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.76.

Get Our Latest Report on PLD

Prologis Price Performance

Shares of Prologis stock traded up $1.67 on Tuesday, hitting $109.07. 1,354,164 shares of the company were exchanged, compared to its average volume of 3,655,818. The stock has a market capitalization of $100.98 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The company has a 50-day moving average price of $112.09 and a 200 day moving average price of $122.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year 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.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Prologis Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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