OFI Invest Asset Management Makes New Investment in Prologis, Inc. (NYSE:PLD)

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

Several other large investors have also recently modified their holdings of PLD. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prologis in the 4th quarter worth $34,000. Promus Capital LLC bought a new stake in Prologis during the 4th quarter valued at $34,000. Finally, Coastline Trust Co bought a new position in shares of Prologis in the third quarter valued at $52,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLD shares. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were 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 $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 0.3 %

Shares of PLD opened at $119.89 on Friday. The firm has a market cap of $111.12 billion, a P/E ratio of 29.97, a price-to-earnings-growth 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 $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. The business has a 50-day moving average of $115.96 and a 200 day moving average of $117.97.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Prologis Company 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.