RiverFront Investment Group LLC Has $12.27 Million Position in Prologis, Inc. (NYSE:PLD)

RiverFront Investment Group LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 116,058 shares of the real estate investment trust’s stock after buying an additional 2,412 shares during the quarter. RiverFront Investment Group LLC’s holdings in Prologis were worth $12,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Prologis in the fourth quarter worth about $951,263,000. Raymond James Financial Inc. acquired a new position in shares of Prologis in the 4th quarter valued at approximately $254,876,000. Janus Henderson Group PLC increased its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. Jennison Associates LLC lifted its stake in Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after buying an additional 829,504 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BTIG Research dropped 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. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

NYSE:PLD opened at $110.37 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm has a market capitalization of $102.29 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09. The stock’s 50 day moving average price is $117.74 and its two-hundred day moving average price is $116.45. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated 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 owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.