Axiom Investors LLC DE Acquires 116,086 Shares of Prologis, Inc. (NYSE:PLD)

Axiom Investors LLC DE lifted its stake in Prologis, Inc. (NYSE:PLD) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 647,801 shares of the real estate investment trust’s stock after purchasing an additional 116,086 shares during the quarter. Axiom Investors LLC DE’s holdings in Prologis were worth $68,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principle Wealth Partners LLC lifted its position in shares of Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC grew its position in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank lifted its position in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 102 shares during the period. Finally, Bridgewater Associates LP increased its position in Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 103 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 0.3 %

Shares of PLD stock opened at $110.37 on Monday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm has a fifty day moving average of $117.74 and a 200-day moving average of $116.24. The company 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 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 business also recently disclosed 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 is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.66%. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis 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.