Prologis, Inc. (NYSE:PLD) Shares Acquired by Allstate Corp

Allstate Corp increased its position in shares of Prologis, Inc. (NYSE:PLD) by 111.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,518 shares of the real estate investment trust’s stock after buying an additional 39,321 shares during the period. Allstate Corp’s holdings in Prologis were worth $7,877,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RiverFront Investment Group LLC raised its position in shares of Prologis by 2.1% in the fourth quarter. RiverFront Investment Group LLC now owns 116,058 shares of the real estate investment trust’s stock worth $12,267,000 after acquiring an additional 2,412 shares during the period. DnB Asset Management AS raised its holdings in Prologis by 3.8% in the 4th quarter. DnB Asset Management AS now owns 300,292 shares of the real estate investment trust’s stock worth $31,741,000 after purchasing an additional 10,858 shares during the period. Level Four Advisory Services LLC boosted its position in Prologis by 3.1% during the fourth quarter. Level Four Advisory Services LLC now owns 49,247 shares of the real estate investment trust’s stock worth $5,205,000 after purchasing an additional 1,497 shares in the last quarter. Slagle Financial LLC boosted its position in Prologis by 5.6% during the fourth quarter. Slagle Financial LLC now owns 20,989 shares of the real estate investment trust’s stock worth $2,219,000 after purchasing an additional 1,120 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Prologis by 7.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,526,498 shares of the real estate investment trust’s stock valued at $161,351,000 after purchasing an additional 102,038 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLD shares. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada increased their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. 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 research note on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 0.3 %

Shares of PLD stock opened at $110.37 on Friday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The stock has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The company’s 50-day moving average price is $117.74 and its 200-day moving average price is $116.45. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. Prologis’s dividend 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.