Prologis, Inc. (NYSE:PLD) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS lifted its stake in Prologis, Inc. (NYSE:PLD) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 300,292 shares of the real estate investment trust’s stock after purchasing an additional 10,858 shares during the quarter. DnB Asset Management AS’s holdings in Prologis were worth $31,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp bought a new stake in Prologis in the fourth quarter worth about $26,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Prologis during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the fourth quarter worth approximately $30,000. Finally, Promus Capital LLC bought a new position in shares of Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Finally, Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Down 0.3 %

Prologis stock opened at $110.37 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm’s fifty day simple moving average is $117.74 and its 200-day simple moving average is $116.45. The company has a market capitalization of $102.29 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09. 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.